变量名

(1)

(2)

(3)

TFP

Lnop

Lncp

Treat × Time⁻⁴

0.119

0.064

−0.072

(3.71)

(0.73)

(−1.32)

Treat × Time⁻³

0.005

−0.019

−0.051

(0.21)

(−0.39)

(−1.03)

Treat × Time⁻²

−0.022

0.022

0.003

(−1.38)

(0.49)

(0.07)

Treat × Time⁰

0.036^**

0.159^**

0.286^*

(2.21)

(2.45)

(1.97)

Treat × Time¹

0.036^*

0.238^*

0.441^*

(1.74)

(1.61)

(1.70)

Constant

12.795^***

0.004^**

0.208^***

(567.62)

(0.09)

(3.50)

Control_Var

YES

YES

YES

YearFE

YES

YES

YES

AreaFE

YES

YES

YES

Observations

17,242

17,242

17,242

Adjusted R-squared

0.287

0.014

0.003