Table 6 Technological advancements mediation test.
lntech | lnfm | |||||
|---|---|---|---|---|---|---|
(1) | (2) | (3) | (4) | (5) | (6) | |
recc | lntech | recc | recc | lnfm | recc | |
did | 0.016*** | 0.206** | 0.015*** | 0.016*** | 0.204** | 0.016*** |
(0.004) | (0.076) | (0.004) | (0.004) | (0.079) | (0.004) | |
tech | 0.009*** | |||||
(0.002) | ||||||
fm | 0.002 | |||||
(0.001) | ||||||
Control variables | Yes | Yes | Yes | Yes | Yes | Yes |
Year FE | Yes | Yes | Yes | Yes | Yes | Yes |
Id FE | Yes | Yes | Yes | Yes | Yes | Yes |
_cons | 0.387*** | −3.133*** | 0.414*** | 0.387*** | 3.223* | 0.382*** |
(0.102) | (1.414) | (0.105) | (0.102) | (1.630) | (0.102) | |
N | 1989 | 1989 | 1989 | 1989 | 1989 | 1989 |
R2 | 0.149 | 0.891 | 0.169 | 0.149 | 0.848 | 0.150 |