Variables

Large-scale enterprise

Medium-sized enterprise

Small and micro enterprise

lntaxrate

2.364*

(1.286)

0.599***

(0.217)

0.408***

(0.068)

curassrate1

0.236**

(0.115)

0.237***

(0.041)

0.136***

(0.015)

per_output1

0.820***

(0.075)

0.463***

(0.029)

0.113***

(0.010)

idebtrate1

0.009

(0.059)

0.028

(0.020)

−0.003

(0.007)

longidebt1

1.792**

(0.714)

−0.092

(0.212)

0.258***

(0.073)

age

0.023***

(0.007)

0.014***

(0.003)

0.005***

(0.001)

kldensity1

0.112**

(0.054)

0.190***

(0.019)

0.083***

(0.007)

constant

2.081

(1.689)

−1.871***

(0.251)

1.786*

(1.024)

year dummies

YES

YES

YES

city dummies

YES

YES

YES

industry dummies

YES

YES

YES

observation

3661

11670

40970