Table 3.
Robustness test.
| q | q | q | q | q | q | q | |
|---|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | |
| Treati×Timet |
0.101***
(2.96) |
0.081***
(2.64) |
0.092***
(2.59) |
0.085***
(3.41) |
0.085***
(4.92) |
0.081**
(2.27) |
0.061*
(1.72) |
| Control variable | Controlled | Controlled | Controlled | Controlled | Controlled | Controlled | Controlled |
| Entity fixed effects | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Time fixed effect | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| N | 7,692 | 9,656 | 6,771 | 6,771 | 6,771 | 4,092 | 4,556 |
| R 2 | 0.328 | 0.350 | 0.380 | 0.378 | 0.378 | 0.307 | 0.289 |
***, **, *
represent the 1%, 5%, and 10% levels of significance, respectively. The bold values mean regression coefficients.