| Variable name | (1) | (2) |
| (1) | (2) |
| LIML | GMM |
| LIML | GMM | |
| IPG2 | 0.547*** | 0.551*** |
| (−2.04) | (−1.18) |
|
| (3.63) | (3.61) | Control | Yes | Yes |
| IPG22 | −0.00299*** | −0.00302*** | Year | Yes | Yes |
|
| (−3.32) | (−3.30) | Industry | Yes | Yes |
| Constant | −22.61** | −10.69 | Sample size | 5260 | 5260 |