| 变量 | (1) | (2) |
| cet | −0.070* | −0.064** |
|
| (−4.74) | (−4.39) |
| Control variables | Yes | Yes |
| Control_pro | Yes | Yes |
| Control_year | Yes | Yes |
| Constant | −0.319 | −0.451 |
|
| (−0.59) | (−0.84) |
| Observations | 480 | 416 |
| R-squared | 0.916 | 0.915 |