(1)

(2)

(3)

(4)

(5)

(6)

变量

ER

ER

Res

ER

ER

ER

Db

9.118^*** (1.634)

8.103^*** (1.389)

5.731^*** (1.355)

7.849^*** (2.116)

Db2

0.143^*** (0.051)

0.154^*** (0.051)

Inter

−2.418 (5.466)

−14.203^** (5.615)

−12.229^** (4.775)

−5.718 (5.119)

−13.221 (9.980)

Infra

−0.134^*** (0.038)

−0.161^*** (0.037)

−0.061^* (0.033)

−0.146^*** (0.032)

−0.209^*** (0.050)

Retail

−0.841 (0.836)

−1.442^* (0.798)

−2.368^*** (0.682)

−0.749 (0.673)

−1.145 (0.916)

People

−0.001^*** (0.000)

−0.001^*** (0.000)

−0.000 (0.000)

−0.001^*** (0.000)

−0.005^** (0.002)

PAD

−0.026 (0.020)

−0.027 (0.019)

−0.029^* (0.016)

−0.019 (0.016)

−0.067^*** (0.023)

CDPR

0.194^*** (0.012)

个体固定

YES

YES

YES

YES

YES

YES

时间固定

YES

YES

YES

YES

YES

YES

样本量

540

540

540

540

540

468

R²

0.233

0.257

0.255

0.518

0.315

0.289