(1)

(2)

(3)

(4)

VARIABLES

FIN1

FIN2

SFIN

LFIN

EPU

0.008^***

0.012^***

0.006^***

0.002^***

(0.001)

(0.001)

(0.001)

(0.000)

ISXSGG

0.013^***

0.007

0.015^***

−0.001

(0.005)

(0.005)

(0.005)

(0.001)

ISXSGG*EPU

−0.003^***

−0.002^*

−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

0.133

0.148

0.132

0.046

Indus

YES

YES

YES

YES