Variable | Better institutional environment | Poorer institutional environment | Large-scale enterprises | Small and medium-sized enterprises |
(1) | (2) | (3) | (4) | |
lnapply | lnapply | lnapply | lnapply | |
DI | 0.067*** | 0.092*** | 0.125*** | 0.035*** |
(0.006) | (0.020) | (0.011) | (0.006) | |
_cons | −7.931*** | −4.823*** | −10.841*** | −3.962*** |
(0.211) | (0.491) | (0.382) | (0.307) | |
Controls | Yes | Yes | Yes | Yes |
industry | Yes | Yes | Yes | Yes |
year | Yes | Yes | Yes | Yes |
N | 14898 | 1985 | 8322 | 8568 |
r2 | 0.230 | 0.165 | 0.211 | 0.049 |
r2_a | 0.228 | 0.151 | 0.207 | 0.045 |