Table 7. Analysis of peer effects.
variable | (1) | (2) | (3) | (4) |
---|---|---|---|---|
dig | CEI | dig | CEI | |
industry_dig | 0.393*** | -0.492** | ||
[0.027] | [0.182] | |||
region_dig | 0.738*** | -0.582** | ||
[0.070] | [0.272] | |||
Control variables | YES | YES | YES | YES |
Year FE | YES | YES | YES | YES |
Individual FE | NO | NO | YES | YES |
City FE | YES | YES | NO | NO |
N | 26650 | 26650 | 26650 | 26650 |
R2 | 0.663 | 0.210 | 0.665 | 0.210 |
Note
***, ** and * indicate significance level of 1%, 5%and 10%, respectively.