地理学视角的京津冀地区工业企业融资成本分析
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李博,李启航,孙威
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Analysis of financing costs of industrial enterprises in Beijing-Tianjin-Hebei region from geographic perspective
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LI Bo,LI Qihang,SUN Wei
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表4 按省份企业融资成本的OLS回归结果
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Tab. 4 Results of OLS regression of financing costs (Sample division by provincial unit)
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| 变量 | 回归(1) | 回归(2) | 回归(3) | 回归(4) | 回归(5) | 回归(6) | | 京津OLS | 河北OLS | 京津OLS | 河北OLS | 京津OLS | 河北OLS | | distance | 0.00537 | 0.0216 | 0.00526 | 0.0192** | 0.00643 | 0.0213** | | (2.188) | (1.147) | (1.903) | (2.323) | (3.250) | (2.659) | | num_1k | -0.00535*** | -0.00738 | | | | | | (-78.62) | (-0.417) | | | | | | num_3k | | | -0.00149** | -0.00462*** | | | | | | (-20.96) | (-4.863) | | | | num_5k | | | | | -0.000590 | -0.00225*** | | | | | | (-4.994) | (-3.506) | | lfa | 0.0666* | 0.0755** | 0.0644* | 0.0712** | 0.0645* | 0.0695** | | (9.409) | (2.634) | (10.28) | (2.531) | (11.84) | (2.539) | | lwc | -0.0867 | -0.218*** | -0.0835 | -0.210*** | -0.0836 | -0.208*** | | (-1.801) | (-9.332) | (-1.770) | (-9.123) | (-1.810) | (-9.167) | | lworker | -0.00807 | 0.0489 | -0.00624 | 0.0563 | -0.00594 | 0.0569 | | (-0.474) | (1.156) | (-0.389) | (1.390) | (-0.384) | (1.428) | | lev | -0.828 | -2.463*** | -0.825 | -2.433*** | -0.825 | -2.424*** | | (-3.177) | (-13.02) | (-3.244) | (-13.17) | (-3.243) | (-13.47) | | dum_gov | -0.0590 | -0.103 | -0.0610 | -0.102 | -0.0623 | -0.102 | | (-0.691) | (-0.930) | (-0.731) | (-0.926) | (-0.756) | (-0.918) | 城市效应
行业效应 | YES | YES | YES | YES | YES | YES | | YES | YES | YES | YES | YES | YES | | 城市聚类稳健标准误 | YES | YES | YES | YES | YES | YES | | _cons | 2.358 | 4.775*** | 2.350 | 4.699*** | 2.328 | 4.663*** | | (2.087) | (11.56) | (2.053) | (12.44) | (2.039) | (12.10) | | N | 3752 | 5533 | 3752 | 5533 | 3752 | 5533 | | 调整R2 | 0.073 | 0.206 | 0.0748 | 0.207 | 0.075 | 0.208 |
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