|
| (1) Risk1 | (2) Risk1 | (3) Risk2 | (4) Risk2 |
| Treat × policy | 0.00187*** | 0.00194*** | 0.00343*** | 0.00353*** |
|
| (3.3014) | (3.4375) | (3.2324) | (3.3471) |
| lnsize |
| −0.00462*** |
| −0.00865*** |
|
|
| (−24.4767) |
| (−24.6613) |
| FirmAge |
| −0.00372*** |
| −0.00688*** |
|
|
| (−6.3678) |
| (−6.3084) |
| Lev |
| −0.0156*** |
| −0.0288*** |
|
|
| (−10.3689) |
| (−10.3122) |
| ROA |
| −0.171*** |
| −0.315*** |
|
|
| (−25.5490) |
| (−25.4503) |
| Cashflow |
| 0.0383*** |
| 0.0708*** |
|
|
| (10.6971) |
| (10.6665) |
| Top1 |
| −0.00882*** |
| −0.0162*** |
|
|
| (−7.0141) |
| (−6.9269) |
| _cons | 0.0320*** | 0.0931*** | 0.0604*** | 0.174*** |
|
| (86.0989) | (43.7873) | (87.0866) | (44.0043) |
| N | 37891 | 37891 | 37891 | 37891 |
| R2 | 0.0474 | 0.141 | 0.0480 | 0.141 |
| idindustry | yes | yes | yes | yes |
| year | yes | yes | yes | yes |
| F | 10.90 | 282.5 | 10.45 | 284.8 |