(1)

(2)

(3)

全样本

滞后一期

滞后二期

score1

0.3106^***

(3.2186)

L.score1

0.2764^***

(2.7467)

L2.score1

0.3192^***

(3.0524)

scale

2.4521^***

2.1408^**

1.4877

(3.1241)

(2.4294)

(1.5874)

economy

0.000005912^**

0.000005270^*

0.000004728^*

(2.2431)

(1.9050)

(1.6748)

research

0.0001266^*

0.0001362^*

0.0001236

(1.7725)

(1.6976)

(1.5812)

buy

−1.425e−07

−1.462e−07

−9.150e−08

(−0.6793)

(−0.6489)

(−0.4216)

_cons

7.4213^***

7.5856^***

7.9254^***

(22.1113)

(21.0843)

(21.2609)

控制变量

YES

YES

YES

N

275

249

221

R²

0.6097

0.5188

0.4978