(1)

变量

y

DID

0.385**

(2.20)

年份

−0.564**

(−1.98)

实施

−0.097

(−0.60)

ta

−0.481***

(−6.75)

TAGR

−0.198***

(−3.02)

RTR

0.000*

(1.68)

RTAR

0.286

(0.57)

2017.YEAR

−0.732***

(−3.38)

2018.YEAR

−0.713***

(−9.20)

2019.YEAR

−0.473***

(−6.10)

2020.YEAR

−0.174**

(−2.18)

Constant

13.492***

(7.43)

Observations

5220

R-squared

0.080

Company FE

YES

Year FE

YES

F test

0

r2_a

0.0779

F

23.39