变量

模型(1)

模型(2)

模型(3)

模型(4)

模型(5)

ppe

−0.002

(−0.013)

−0.428

(−1.584)

−0.757**

(−2.295)

−0.699**

(−2.111)

−0.677**

(−2.058)

ppe2

0.028

(1.302)

0.044*

(1.759)

0.041*

(1.687)

0.037

(1.498)

fd_zc

−0.094***

(−2.787)

−0.094***

(−2.826)

−0.113***

(−4.890)

fd_sr

−0.115***

(−3.026)

fd_zyd

0.008

(0.834)

lnrjgdp

0.140*

(1.662)

0.137*

(1.668)

0.120

(1.532)

cyjg

0.028

(1.155)

0.031

(1.324)

0.041*

(1.865)

yswsr

−0.014

(−0.654)

−0.014

(−0.631)

−0.016

(−0.750)

kjcyrs

−0.086**

(−2.541)

−0.088***

(−2.643)

−0.102***

(−2.928)

zfgm

0.736**

(2.523)

0.742***

(2.752)

0.484***

(2.618)

year

0.907***

(43.69)

0.907***

(43.64)

0.906***

(22.05)

0.914***

(23.40)

0.946***

(25.36)

Constant

YES

YES

YES

YES

YES

时点固定

YES

YES

YES

YES

YES

个体固定

YES

YES

YES

YES

YES

观测数

4930

4930

4930

4930

4930

Adj R2

0.866

0.866

0.869

0.868

0.867

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