Category | Variables | Description | Coefficien |
Merchant social-economic Variables | Cas_hotel | Hotel industry | 0.334*** |
Cas_hospital | Hospital industry | 0.345*** | |
Cas_wholesale | Holesale industry | −0.675*** | |
Cas_retail | Retail industry | 0.056** | |
Cas_utilities | Utilities industry | 0.087*** | |
Cas_internet server | Internet server industry | 0.457*** | |
Cas_education | Education industry | −0.959*** | |
Cas_building construction | Building construction industry | −0.227* | |
Cas_textile and garment | Textile and garment industry | 0.057*** | |
scale_1000-4999 | Staff size (1000 - 4999 s person) | −0.756*** | |
scale_5000-9999 | Staff size (5000 - 9999 s person) | −0.855*** | |
scale_10000(more than) | Staff size(more than 10,000 s person) | −0.765*** | |
scale_50-99 | Staff size (50 - 99 s person) | 0.667*** | |
reg_capital | Registered capital | 3.456 | |
Merchant Dynamic Transaction Variables (4 in total) | trans_cnt | Average daily trading volume in July 2019 | 5.067*** |
amt_avg | Average spending amount in July 2019 | −1.658*** | |
amt_max | Maximum daily average consumption amount in July 2019 | −1.084*** | |
amt_min | Minimum daily spending amount in July 2019 | 2.564 | |
Merchant clustering effect (8 in total) | dist100_b | The proportion of adopted within 100 m | 0.116*** |
dist200_b | The proportion of adopted within 200 m | 0.031** | |
dist500_b | The proportion of adopted within 500 m | 0.021*** | |
dist1000_b | The proportion of adopted within 1000 m | 0.179*** | |
dist100f | Adopted amount within 100 m | 0.237 | |
dist200f | Adopted amount within 200 m | 0.548 | |
dist500f | Adopted amount within 500 m | 0.583 | |
dist1000f | Adopted amount within 1000 m | 0.073 |