(1)

(2)

Cooperation

Transfer

Trust

0.099***

0.288**

(5.209)

(2.129)

Type

−0.030***

0.697***

(−4.184)

(13.800)

Size

−0.015**

−0.193***

(−2.546)

(−6.458)

Resp

0.013***

0.199***

(3.210)

(10.285)

Product

0.047***

0.399***

(10.352)

(16.528)

Cooperation

1.352***

(17.154)

Industry

−0.185*

(−1.846)

Law

0.197

(0.894)

GDP

0.264

(1.297)

Constant

−0.093***

−2.623*

(−4.345)

(−1.772)

Province fixed effects

Yes

Yes

Year fixed effects

Yes

Yes

N

7035

7035

R2

0.193

0.420