| 腐败比例 | 腐败比例 | |
| 工具变量 | (1)行业中位数 | (2)行业均值 |
|
| −0.874*** | −1.635*** |
| (−6.36) | (−4.87) | |
| Control variable | Yes | Yes |
| N | 4122 | 4122 |
| Cragg-Donald Wald test | 683.002 | 201.379 |
| LM test | 490.879 | 182.961 |
| D-W-H test | 19.140 | 18.048 |