Table 11 Heterogeneity tests: urban–rural.
From: The impact of digital education on household allocation of risky financial assets in China
Urban | Rural | Urban | Rural | |||||
|---|---|---|---|---|---|---|---|---|
Ownership of risky financial assets | Ownership of risky financial assets | Types of risky financial assets | Types of risky financial assets | |||||
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
Digital education (principal component analysis) | 0.422*** | 0.354*** | 0.149*** | 0.087*** | ||||
(25.23) | (15.28) | (26.76) | (15.18) | |||||
Digital education (summed) | 0.446*** | 0.382*** | 0.165*** | 0.102*** | ||||
(26.94) | (16.32) | (29.26) | (17.16) | |||||
Control variables | Y | Y | Y | Y | Y | Y | Y | Y |
Province fixed effects | Y | Y | Y | Y | Y | Y | Y | Y |
Cons | − 0.339 | − 1.370*** | − 2.116*** | − 2.942*** | − 0.082 | − 0.474*** | 0.142 | − 0.083 |
(− 0.73) | (− 2.93) | (− 3.89) | (− 5.40) | (− 0.52) | (− 2.99) | (0.94) | (− 0.55) | |
N | 21,728 | 21,728 | 11,708 | 11,708 | 21,728 | 21,728 | 11,708 | 11,708 |
Inter-group coefficient test | (1)vs(3) | (2)vs(4) | (5)vs(7) | (6)vs(8) | ||||
P-value | 0.0188 | 0.0267 | 0.0000 | 0.0000 | ||||
R2 | 0.3614 | 0.3645 | 0.3210 | 0.3232 | 0.3407 | 0.3448 | 0.3306 | 0.3342 |
