替换变量LnRD

VARIABLES

模型(1)

模型(2)

Subsidy

7.941***

(3.03)

Tax

8.938*

(1.81)

Size

0.718***

0.695***

(16.79)

(16.45)

Lev

−0.025

0.099

(−0.19)

(0.65)

Age

−0.032***

−0.021**

(−4.31)

(−2.57)

Roe

0.665**

−0.153

(2.34)

(−0.34)

Constant

3.002**

3.664***

−2.52

−3.11

年份固定效应

Control

Control

个体固定效应

Control

Control

Observations

1930

1930

R-squared

0.976

0.976