(1)

lnenjoy

(2)

lninfina

(3)

lnenjoy

(4)

lnenjoy

(5)

lnenjoy

lnnetwork

0.071***

(0.008)

0.033*

(0.0198)

0.019**

(0.008)

0.070***

(0.008)

0.071***

(0.008)

lninfina

-

-

-

0.010**

(0.004)

-

Social status

-

-

-

-

0.043***

(0.013)

lnincome

0.084***

(0.010)

−0.022

(0.027)

0.018**

(0.009)

0.084***

(0.010)

0.083***

(0.010)

lnfinanceasset

0.017***

(0.002)

0.095***

(0.013)

0.004

(0.004)

0.017***

(0.002)

0.016***

(0.002)

Size

0.141***

(0.013)

0.108***

(0.029)

0.022**

(0.008)

0.139***

(0.013)

0.140***

(0.013)

Gender

−0.007

(0.041)

0.165**

(0.084)

−0.109***

(0.029)

−0.003

(0.040)

−0.001

(0.040)

Age

−0.005

(0.006)

−0.006

(0.020)

−0.006

(0.007)

−0.004

(0.006)

−0.004

(0.006)

Edu

0.172***

(0.009)

0.106***

(0.035)

0.033**

(0.014)

0.172***

(0.009)

0.171***

(0.009)

Marriage

0.254***

(0.056)

0.154

(0.205)

0.028

(0.066)

0.252***

(0.056)

0.254***

(0.057)

Health

0.015**

(0.007)

0.132***

(0.032)

0.102***

(0.010)

0.012

(0.007)

0.010

(0.007)

Work status

0.060*

(0.035)

0.107

(0.127)

0.135***

(0.035)

0.050

(0.034)

0.051

(0.034)

Provincial fixed effect

YES

YES

YES

YES

YES

Constant term

6.891***

(0.185)

2.899***

(0.544)

1.409***

(0.142)

6.795***

(0.200)

6.825***

(0.196)

adj R-squared

0.328

0.057

0.079

0.329

0.328

Sample size

5314

5374

5374

5302

5302