Input

Eastern region

Central region

Western region

DIF

0.047***

0.047***

0.086***

0.085***

0.018

0.028

(7.39)

(7.57)

(6.52)

(6.46)

(0.67)

(1.14)

Fin

2.773***

0.738

4.157***

(10.96)

(1.31)

(5.27)

DIF*Fin

0.010**

0.010

−0.008

(2.04)

(0.88)

(−0.54)

Constant

19.212***

14.256***

7.828**

12.774**

17.700***

11.722*

5.387

3.338

1.619

(5.30)

(3.93)

(2.13)

(2.03)

(2.66)

(1.82)

(0.44)

(0.30)

(0.14)

Controls

YES

YES

YES

YES

YES

YES

YES

YES

YES

Industry FE

YES

YES

YES

YES

YES

YES

YES

YES

YES

Year FE

YES

YES

YES

YES

YES

YES

YES

YES

YES

N

2548

2548

2548

417

417

417

251

251

251