|
| (1) | (2) | (3) |
| ROA | KZ | ROA | |
| Rur_D | 0.007*** | −0.338*** | 0.002 |
| (2.763) | (−3.530) | (0.988) | |
| KZ |
|
| −0.015*** |
|
|
| (−32.434) | |
| Controls | control | control | control |
| _cons | 0.006 | 0.038 | 0.007 |
| (0.456) | (0.072) | (0.631) | |
| N | 3524 | 3524 | 3524 |
| r2_a | 0.072 | 0.156 | 0.383 |
| year | Yes | Yes | Yes |
| ind | Yes | Yes | Yes |