	Score (1)	Rinv (2)	Score (3)
Treat × Time	0.5106^***	0.0021^*	0.5372^***
Treat × Time	−0.142	−0.001	−0.141
Age	−0.366	−0.0058^***	−0.262
Age	−0.214	−0.002	−0.213
Soe	1.0427^***	−0.0090^***	1.1716^***
Soe	−0.137	−0.001	−0.137
Sep	0.009	0.000	0.010
Sep	−0.008	0.000	−0.008
Concen	0.0227^***	0.0001^**	0.0217^***
Concen	−0.005	0.000	−0.005
Size	0.0000^***	0.0000^***	0.0000^***
Size	0.000	0.000	0.000
Rdi	−0.018	0.0003^**	−0.021
Rdi	−0.015	0.000	−0.015
TBQ	−0.0865^*	0.0007^*	−0.0954^*
TBQ	−0.044	0.000	−0.044
Gxh	0.0000^***	0.0000^***	0.0000^***
Gxh	0.000	0.000	0.000
Rinv			15.0498^***
Rinv			−1.535
cons	72.2054^***	0.0560^***	71.3094^***
cons	−0.658	−0.005	−0.660
adj. R2	0.048	0.027	0.058
Observations	9303	9303	9303
Sobel检验 P = 0.047^** (z = −1.98) Goodman检验1 P = 0.048^** (z = −1.97) Goodman检验2 P = 0.047^** (z = −1.99) 中介效应比 0.066