VARIABLES

(2)

(3)

(4)

(5)

(2.1)

(2.2)

(3.1)

(3.2)

(4.1)

(4.2)

(5.1)

(5.2)

fans_lvl

0.224^***

0.064

0.166^***

0.123^***

0.095^***

0.217^***

0.090^***

0.144

(16.48)

(1.51)

(15.12)

(3.27)

(10.96)

(4.18)

(13.73)

(1.46)

gender

−0.014

−0.005

−0.055^***

−0.017

−0.036^***

−0.122^*

−0.042^***

−0.291^*

(−0.71)

(−0.08)

(−3.92)

(−0.32)

(−3.20)

(−1.87)

(−3.69)

(−1.91)

level

0.010^***

−0.05^***

0.005^**

−0.039^***

−0.012^***

−0.018^**

−0.013^***

0.037^***

(3.08)

(−8.54)

(2.29)

(−6.59)

(−6.50)

(−2.46)

(−5.35)

(3.87)

fu_num

−0.000

−0.000

0.000

−0.000

0.000^***

0.000

0.000^***

−0.000^*

(−0.77)

(−1.14)

(0.14)

(−0.55)

(2.62)

(1.35)

(6.76)

(−1.70)

fans_num

−0.000

0.000

−0.000

0.000^***

0.000^***

0.000

0.000^***

−0.000^*

(−0.48)

(1.39)

(−1.53)

(2.81)

(3.24)

(1.60)

(3.03)

(−1.76)

feed_num

0.001

−0.001

−0.004^***

−0.003^***

−0.002^***

−0.000

−0.001^***

−0.000

(0.44)

(−0.47)

(−3.98)

(−3.99)

(−2.80)

(−0.08)

(−6.74)

(−0.08)

is_streamer

−0.022

0.037

0.064^***

−0.018

0.040^**

0.017

0.030^*

−0.039

(−7.10)

(0.00)

(−3.73)

(−0.71)

(7.07)

(−3.00)

(0.98)

(−2.28)

Observations

3436

2952

6560

4221

10,781

2707

9623

581

R-squared

0.120

0.034

0.104

0.047

0.092

0.066

0.110

0.140