Table 2.
Baseline regression results.
| Variable | OLS |
FE |
||
|---|---|---|---|---|
| (1) | (2) | (3) | (3) | |
| treat × policy | 0.2381*** | 0.0959** | 0.1387*** | 0.1562*** |
| (0.0571) | (0.0417) | (0.0443) | (0.0420) | |
| cons | 3.1716*** | -15.4771*** | 4.4210*** | -11.8552*** |
| (0.4620) | (0.4819) | (0.2853) | (0.8074) | |
| Control Variable | N | Y | N | Y |
| Year FE | Y | Y | Y | Y |
| Area FE | Y | Y | N | Y |
| Industry FE | Y | Y | N | Y |
| Individual FE | N | N | Y | Y |
| N | 5,512 | 5,462 | 5,512 | 5,462 |
| R2 | 0.3238 | 0.6418 | 0.1265 | 0.2229 |
Note: ***, **, * respectively means the significance level are 1%, 5%, 10%. The values in brackets in Table 2 are t-value.