变量

模型一

模型二

模型三

LnY_it

0.2271455

(0.51)

0.4558077

(2.69)^*

0.4494149

(0.94)

LnS_it

0.311105

(0.63)

0.2193644

(1.18)

−0.3818736

(−0.48)

LnRD_it

−1.433556

(−6.57)^*

−0.7039356

(−8.50)^*

−1.491243

(−6.69)^*

LnZB_it

−0.1252948

(−0.39)

−0.565992

(−4.29)^*

0.3277112

(0.30)

LnZJ_it

0.3923018

(1.25)

−0.808406

(−1.71)^***

−0.2163949

(−0.21)

LnZJ_it * LnY_it

−0.0594397

(−8.13)^*

LnZB_it * LnY_it

−0.0448959

(−44.27)^*

LnZJ_it * LnS_it

−0.1420835

(0.645)

LnZJ_it * LnS_it

0.1883498

(0.63)

Adjusted R²

0.3130

0.9107

0.3167

F-statistic

27.24

432.72

19.66