(1)

(2)

ROE

ROE

Rur_D

0.015***

(2.707)

Rur_scl

0.005***

(3.532)

Controls

control

control

_cons

−0.078***

−0.071**

(−2.955)

(−2.335)

N

3520

2828

r2_a

0.056

0.058

year

Yes

Yes

ind

Yes

Yes