变量

stock_rate

deposit_rate

deposit_rate

risk_rate

number

mage

3.315***

1.782***

1.532***

2.993***

0.052***

(8.59)

(5.09)

(21.21)

(8.99)

(9.81)

mage^2/100

−3.464***

−0.249

−2.731***

−0.050***

(−8.77)

(−0.73)

(−8.18)

(−9.35)

Control variables

YES

YES

YES

YES

YES

Constant

−252.630***

−221.625***

−216.044***

−246.506***

−3.666***

(−20.03)

(−19.99)

(−27.04)

(−22.69)

(−20.92)

Observations

27,108

27,108

27,108

27,108

27,108

Pseudo R-squared

0.0817

0.0143

0.0143

0.0862