Matching ratio | 1:1 | 1:2 | ||
tfp | tfp | tfp | tfp | |
(1) | (2) | (3) | (4) | |
ofdi | 0.183*** | 0.152*** | 0.190*** | 0.154*** |
(6.01) | (5.57) | (7.30) | (6.37) | |
size |
| 0.040* |
| 0.039** |
| (1.68) |
| (2.00) | |
age |
| 0.163*** |
| 0.097** |
| (3.18) |
| (2.20) | |
lev |
| 1.058*** |
| 0.897*** |
| (8.97) |
| (8.62) | |
roa |
| 0.495*** |
| 0.253** |
| (4.00) |
| (2.09) | |
growth |
| 0.000* |
| 0.042*** |
| (1.74) |
| (3.28) | |
export |
| 0.011*** |
| 0.008*** |
| (3.66) |
| (3.55) | |
Constant term | 7.611*** | 6.103*** | 7.618*** | 6.318*** |
(145.17) | (13.29) | (206.81) | (16.97) | |
Year | Yes | Yes | Yes | Yes |
Enterprise | Yes | Yes | Yes | Yes |
Observations | 7393 | 7393 | 10,761 | 10,761 |
R2 | 0.275 | 0.380 | 0.272 | 0.372 |
F | 67.047 | 58.118 | 92.572 | 75.125 |