Exit

(1)

Foreign-owned

(2)

Private

(3)

State-owned

(4)

East

(5)

Middle

(6)

West

lnreer

0.0093***

0.0096***

0.0194***

0.0175***

0.0010

0.0023

(0.0009)

(0.0035)

(0.0011)

(0.0007)

(0.0034)

(0.0041)

lngdp

−0.0630***

−0.0284***

−0.0445***

−0.0526***

−0.0638***

−0.0640***

(0.0009)

(0.0037)

(0.0010)

(0.0007)

(0.0035)

(0.0046)

lngdppc

−0.0071***

0.0141**

−0.0256***

−0.0232***

−0.0020

0.0213***

(0.0015)

(0.0061)

(0.0019)

(0.0012)

(0.0058)

(0.0074)

lndistance

0.0324***

0.0406***

0.0778***

0.0704***

0.0433***

0.0214**

(0.0021)

(0.0080)

(0.0022)

(0.0015)

(0.0077)

(0.0102)

tfp

−0.0241***

−0.0690***

0.0177***

−0.0046***

0.0074

−0.0181**

(0.0015)

(0.0061)

(0.0015)

(0.0011)

(0.0054)

(0.0073)

profit

−0.7057***

−0.6418***

−0.3345***

−0.4145***

−0.3312***

−1.0977***

(0.0213)

(0.0610)

(0.0159)

(0.0128)

(0.0647)

(0.0749)

lnsize

0.0134***

0.0169***

−0.0441***

−0.0207***

0.0005

0.0586***

(0.0010)

(0.0040)

(0.0009)

(0.0007)

(0.0034)

(0.0043)

lnage

0.0501***

0.0490***

0.1048***

0.1031***

0.0726***

−0.0242***

(0.0018)

(0.0063)

(0.0024)

(0.0015)

(0.0061)

(0.0081)

exp

−0.1110***

−0.1359***

−0.1581***

−0.1321***

−0.0623***

−0.0965***

(0.0030)

(0.0131)

(0.0031)

(0.0022)

(0.0116)

(0.0148)

lnvalue

−0.1393***

−0.1492***

−0.1458***

−0.1407***

−0.1452***

−0.1332***

(0.0006)

(0.0025)

(0.0006)

(0.0004)

(0.0024)

(0.0029)

share

−0.5389***

−0.3902***

−0.3818***

−0.4472***

−0.4861***

−0.4431***

(0.0047)

(0.0194)

(0.0049)

(0.0034)

(0.0177)

(0.0224)

lnvariety

−0.0518***

0.0603***

−0.0686***

−0.0418***

−0.0459***

−0.0457***

(0.0014)

(0.0050)

(0.0016)

(0.0011)

(0.0060)

(0.0073)

_cons

3.3900***

2.2665***

2.6987***

2.8744***

3.2952***

2.9472***

(0.0311)

(0.1193)

(0.0303)

(0.0219)

(0.1170)

(0.1499)

N

1,460,696

97,064

1,533,582

2,926,534

101,392

63,416

Log likelihood

−908,527.63

−57,470.252

−956,631.57

−1,827,149.6

−62,227.077

−38,875.399

Wald chi2

112,744.24

8056.22

129,430.29

231,463.59

7904.51

5085.84

Prob > chi2

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000