| Model(1) | Model(2) | Model(3) | Model(4) | |
变量 | IE | FC | IE | IE | |
常数项 | −8.257*** | 5.732*** | −7.996*** | −7.971*** | |
| (−24.198) | (14.694) | (−23.273) | (−23.244) | |
Open | 0.007*** | −0.003*** |
| 0.006*** | |
| (8.176) | (−2.864) |
| (8.024) | |
FC |
|
| −0.051*** | −0.050*** | |
|
|
| (−7.500) | (−7.334) | |
Controls | 控制 | 控制 | 控制 | 控制 | |
Year/Ind | 控制 | 控制 | 控制 | 控制 | |
F | 194.4 | 0.596 | 0.319 | 0.322 | |
Adj-R2 | 0.320 | 609.0 | 194.0 | 191.6 | |
N | 16454 | 16454 | 16454 | 16454 | |
Sobel检验 | 2.667*** | ||||