all

central SOE

local SOE

private enterprise

(1)

(2)

(3)

(4)

suba

0.3150***

0.4690***

0.0773**

0.3500***

(0.0210)

(0.0519)

(0.0346)

(0.0295)

control variables

control

control

control

control

ind

control

control

control

control

year

control

control

control

control

prov

control

control

control

control

N

7813

1077

1767

4659

LR chi2

3925.16

975.12

1056.03

2272.62

Pseudo R2

−0.0960

−0.1770

−0.1080

−0.0940