出口退税调整对中国稀土企业进入退出行为的影响
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何欢浪, 刘惠
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Impact of export rebate on firms’ entry and exit behaviors in China’s rare earth industry
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HE Huanlang, LIU Hui
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表3 出口退税调整与企业进入行为的估计结果
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Table 3 Empirical results of the impact of export rebate on firm entry
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| 企业进入 | 企业进入 | 企业进入(滞后1期) | 企业进入 | 企业进入 | 企业进入(滞后1期) | (1) | (2) | (3) | (4) | (5) | (6) | △ExportRebates | 0.0317*** | 0.0503*** | | 0.0295** | 0.0374*** | | (4.77) | (5.45) | | (3.21) | (3.85) | | L.△ExportRebates | | | 0.0406*** | | | 0.0327*** | | | (6.67) | | | (4.98) | TFP | | | | –0.0185 | –0.0327 | –0.0315 | | | | (–0.39) | (–0.65) | (–0.63) | Size | | | | –0.0899 | –0.0856 | –0.0820 | | | | (–1.62) | (–1.70) | (–1.73) | Age | | | | –0.0353*** | –0.0390*** | –0.0395*** | | | | (–6.92) | (–7.24) | (–7.31) | CapitalIntensity | | | | 0.0179 | 0.0208 | 0.0185 | | | | (0.63) | (0.69) | (0.62) | Lev | | | | 0.0277 | 0.0264 | 0.0269 | | | | (1.62) | (1.48) | (1.50) | Subsidy | | | | 5.621** | 5.807** | 5.601** | | | | (2.72) | (2.78) | (2.68) | SOE | | | | –0.189 | –0.171 | –0.168 | | | | (–1.83) | (–1.56) | (–1.53) | Private | | | | –0.332*** | –0.321*** | –0.264** | | | | (–3.71) | (–3.50) | (–2.84) | Constant | –0.488*** | –0.391** | –0.478** | –0.839** | –0.948** | –0.898* | (–2.98) | (–2.79) | (–2.72) | (–2.94) | (–2.66) | (–2.51) | 年份固定效应 | NO | YES | YES | NO | YES | YES | 地区固定效应 | NO | YES | YES | NO | YES | YES | Pseudo R2 | 0.0122 | 0.0233 | 0.0319 | 0.0599 | 0.0741 | 0.0797 | Observations | 1630 | 1630 | 1630 | 1630 | 1630 | 1630 |
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