Table 7 Substitution test for dependent variable.
Variables | (1) | (2) | (3) | (4) | (5) |
---|---|---|---|---|---|
Benchmark Model | Main Effect | OLS1 | OLS2 | Mediating Effect | |
IMi, t | 0.1111*** | 0.1636*** | 0.1095*** | ||
(0.0243) | (0.0471) | (0.0243) | |||
GTIi, t | 0.0117** | 0.0099** | |||
(0.0050) | (0.0050) | ||||
CN | yes | yes | yes | yes | yes |
_cons | 4.1648*** | 4.7251*** | 0.0194 | 4.1674*** | 4.7249*** |
(0.3742) | (0.2093) | (0.4062) | (0.3741) | (0.2093) | |
N | 13,498 | 12,854 | 12,854 | 13,498 | 12,854 |
R-sq | 0.477 | 0.493 | 0.026 | 0.477 | 0.493 |