(1)

(2)

(3)

(4)

VARIABLES

FIN1

FIN2

SFIN

LFIN

EPU

0.007^***

0.009^***

0.005^***

0.002^***

(0.001)

(0.001)

(0.001)

(0.000)

SEABACK

0.009

0.009

0.014^**

−0.004^**

(0.007)

(0.007)

(0.007)

(0.002)

SEABACK*EPU

−0.003^***

−0.003^**

−0.004^***

0.001

控制变量

(0.001)

YES

(0.001)

YES

(0.001)

YES

(0.000)

YES

Obs

25888

25888

25888

25888

R-sq

0.132

0.131

0.132

0.045

Indus

YES

YES

YES

YES