| VARS | (1) | (2) | (3) |
| tech | HQED | tal | |
| HQED | 1.700*** | 1.204*** | |
| (0.148) | (0.113) | ||
| tal | 0.141*** | 0.154*** |
|
| (0.049) | (0.031) | ||
| tech |
| 0.352*** | 0.212*** |
|
|
| (0.020) | (0.063) |
| Constant | 7.859*** | −1.882*** | −4.319*** |
| (0.205) | (0.214) | (0.503) | |
| Observations | 420 | 420 | 420 |
| Adjusted | 0.956 | 0.922 | 0.865 |
| R-squared |