| 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 |