Table 10 Heterogeneity: Digital inclusive finance sub-index.
Variables | (1) | (2) | (3) |
|---|---|---|---|
TFPLP | TFPLP | TFPLP | |
BRE | 0.00162*** | ||
− 19.25 | |||
DEP | 0.00108*** | ||
− 19.3 | |||
DIG | − 0.00005 | ||
(− 0.38) | |||
SIZE | 0.54934*** | 0.55494*** | 0.55322*** |
− 96.07 | − 97.65 | − 97.59 | |
LEV | 0.18006*** | 0.16475*** | 0.17315*** |
− 8.24 | − 7.56 | − 7.97 | |
TOP | 0.00169*** | 0.00178*** | 0.00143*** |
− 4.45 | − 4.68 | − 3.81 | |
Growth | 0.25049*** | 0.24222*** | 0.24808*** |
− 47.72 | − 46.24 | − 47.3 | |
CFO | 0.75989*** | 0.77110*** | 0.76861*** |
− 21.1 | − 21.41 | − 21.53 | |
AGE | − 0.13209*** | 0.16605*** | − 0.057 |
(− 2.94) | − 5.31 | (− 1.22) | |
BSIZE | 0.11749*** | 0.10386*** | 0.09422*** |
− 5.94 | − 5.26 | − 4.83 | |
MSR | − 0.00088*** | − 0.00068** | − 0.00087*** |
(− 3.01) | (− 2.35) | (− 3.03) | |
_cons | − 4.42510*** | − 5.26343*** | − 4.42510*** |
(− 27.97) | (− 40.26) | (− 26.46) | |
N | 22,291 | 22,291 | 22,291 |
R2 | 0.658 | 0.658 | 0.669 |
Year | Yes | Yes | Yes |
FE | Yes | Yes | Yes |
