| Variable | City fixed effects | One-period Lagged Processing | PSM + DID | |||
| Risk1 | Risk2 | Risk1 | Risk2 | Risk1 | Risk2 | |
| Treat × policy | 0.00201*** | 0.00368*** |
|
| 0.00348** | 0.00638** |
|
| (3.4046) | (3.3489) |
|
| (2.2540) | (2.2258) |
| L.DID |
|
| 0.00225*** | 0.00406*** |
|
|
|
|
|
| (3.9327) | (3.8025) |
|
|
| N | 37840 | 37840 | 33649 | 33649 | 10964 | 10964 |
| Controls | Yes | Yes | Yes | Yes | Yes | Yes |
| Industry & year | Yes | Yes | Yes | Yes | Yes | Yes |
| R2 | 0.165 | 0.165 | 0.158 | 0.158 | 0.427 | 0.428 |