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Robustness test results.
| Variable | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
| SL2 |
0.616*** (11.99) |
|||
| SL |
0.448*** (7.45) |
0.556*** (6.22) |
0.789*** (16.56) |
|
| Control Variables | Yes | Yes | Yes | Yes |
| Constant |
−0.107 (−0.87) |
−0.263** (−2.12) |
−0.058 (−0.43) |
−0.051 (−0.26) |
| Year FE | Yes | Yes | Yes | Yes |
| ID FE | Yes | Yes | Yes | Yes |
| N | 360 | 360 | 260 | 330 |
| Adj R2 | 0.968 | 0.970 | 0.972 | 0.793 |
