| Variables |
(1)Loan |
(2)TC |
(3)KZ |
(4)Loan |
(5)Loan |
(6)Loan |
|
After
|
-0.0085* |
0.0215*** |
1.0632*** |
-0.0123* |
-0.0147** |
-0.0086* |
| (-1.72) |
(9.64) |
(12.52) |
(-1.91) |
(-2.36) |
(-1.75) |
|
After× SOE
|
|
|
|
0.0075 |
|
|
|
|
|
(0.86) |
|
|
|
After× POL
|
|
|
|
|
0.0139** |
|
|
|
|
|
(2.23) |
|
|
After×lnTFP
|
|
|
|
|
|
-0.0368** |
|
|
|
|
|
(-2.27) |
|
Control variable
|
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Firm FE
|
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Year FE
|
No |
No |
No |
Yes |
Yes |
Yes |
|
Adjust R2
|
0.4152 |
0.4094 |
0.6801 |
0.4152 |
0.4184 |
0.4158 |
| Observations |
5098 |
4977 |
5015 |
5098 |
4550 |
5098 |