(5)

(6)

(7)

EAST

MID

WEST

govsize

−0.305

0.339**

0.698***

(0.933)

(1.003)

(0.172)

invest

0.188

0.104

−0.081

(0.177)

(0.107)

(0.087)

optrade

−0.177*

−0.133

0.046

(0.080)

(0.422)

(0.175)

lnlab

−0.212**

−0.288**

−0.339***

(0.076)

(0.111)

(0.080)

N

80

64

88

R²

0.290

0.335

0.450