| 变量 | (1) | (2) |
| cet | −0.080*** | −0.070*** |
|
| (−6.00) | (−4.82) |
| Control variables | Yes | Yes |
| Control_pro | Yes | Yes |
| Control_year | Yes | Yes |
| Constant | −1.011*** | −0.319 |
|
| (−26.22) | (0.60) |
| Observations | 480 | 480 |
| R-squared | 0.910 | 0.916 |