Table 5 IV regression.
From: How do zombie firms affect labor mobility: city-level empirical evidence from China
(1) | (2) | (1) | (2) | |
|---|---|---|---|---|
\(\Delta {labor}\) | \(\Delta {labor}\) | \(\Delta {labor}\) | \(\Delta {labor}\) | |
\(\overline{{Zombie}}\) | −0.4428** | −0.4338** | −1.0030*** | −1.0426*** |
(0.1787) | (0.2081) | (0.2299) | (0.3335) | |
CV | NO | Yes | NO | Yes |
N | 717 | 717 | 717 | 717 |
Period FE | YES | YES | YES | YES |
City FE | YES | YES | YES | YES |
First-stage estimation | ||||
\(\overline{{ZombieIV}1}\) | 1.5223*** | 1.3084*** | ||
(0.3926) | (0.3883) | |||
\(\overline{{ZombieIV}2}\) | 4.8775*** | 3.8999*** | ||
(1.1334) | (1.2842) | |||
Anderson canon. corr. LM statistic | 21.99 | 16.48 | 26.91 | 13.83 |
Cragg-Donald Wald F statistic | 15.03 | 11.04 | 18.52 | 9.22 |
