(4)

(1)

(1)

(2)

(4)

output_total

income_assetsales

Income

inv_total

expense_business

Treatment

−1.69e+04

30.501

4619.706*

0.000

−8784.441

(11474.19)

(261.60)

(2729.90)

(733.22)

(9173.41)

Post

−7343.101

582.492**

−4865.051*

0.000

−4259.414

(10522.68)

(240.88)

(2512.31)

(597.84)

(8420.80)

Interaction

30094.528**

−619.295*

−6685.530*

1966.250*

20844.741*

(15077.71)

(344.65)

(3593.44)

(989.90)

(12028.47)