	(1)	(2)	(3)	(4)	(5)	(6)
	c1	c2	c3	c4	c5	c6
VARIABLES	qyzcz	qyzjz	ZSR	ZYSR	QTSR	YYWSR
						
treatment	0.0286005**	0.0092770***	0.0737711***	0.0565951**	0.2692471	0.0000066
	(2.469)	(5.037)	(2.831)	(2.456)	(1.202)	(0.054)
size	-0.4945283***	-0.0428138***	-2.8557514***	-2.5604161***	-0.4557121**	-0.0022296***
	(-99.088)	(-61.478)	(-178.927)	(-188.521)	(-2.157)	(-48.577)
debt_asset	0.1690928***	0.0100406***	0.3782770***	0.3410498***	-0.0976366	0.0016930***
	(18.826)	(7.255)	(16.339)	(17.131)	(-1.323)	(16.785)
age	0.0187421*	-0.0011566	0.0351134	0.0281676	0.0186448	0.0001119
	(1.832)	(-0.626)	(1.449)	(1.314)	(0.411)	(0.686)
prof	0.1293336***	0.0158407***	0.6761091***	0.6315331***	0.0091325	0.0010488***
	(46.778)	(36.129)	(71.437)	(75.035)	(0.459)	(22.212)
zzs	0.0034299***	0.0003628***	0.0068610***	0.0065342***	0.0007243**	0.0000237***
	(11.782)	(6.530)	(13.723)	(14.789)	(2.478)	(6.489)
GDP	-0.0435142*	-0.0148442***	0.2628123***	0.1750218***	0.0077812	0.0007543**
	(-1.757)	(-3.123)	(5.326)	(4.004)	(0.039)	(2.549)
finance	0.0723933***	0.0333424***	0.1812582***	0.1224082***	0.1101626*	-0.0000862
	(3.839)	(9.684)	(4.971)	(3.772)	(1.866)	(-0.391)
fin_deepening	-0.0516042***	-0.0069811***	-0.0280447*	-0.0049585	0.1433828	0.0000347
	(-8.539)	(-6.612)	(-1.924)	(-0.385)	(1.132)	(0.462)
ln_bank	-0.4404073***	-0.0052339	-0.1667074***	-0.1659415***	-0.1177715*	-0.0000995
	(-15.674)	(-0.996)	(-3.540)	(-3.954)	(-1.670)	(-0.344)
ln_finance_worker	-0.2094442***	-0.0374933***	0.0355647	0.0484994**	-0.0352824	0.0003072**
	(-18.316)	(-16.675)	(1.435)	(2.194)	(-1.434)	(2.234)
Constant	9.6202678***	0.5847934***	20.0775026***	19.3597551***	2.4720654	0.0124911**
	(22.371)	(7.551)	(23.221)	(25.340)	(0.787)	(2.543)
						
Observations	1,380,080	1,380,080	1,380,080	1,380,080	1,380,080	1,380,080
R-squared	0.624	0.482	0.709	0.723	0.330	0.635
企业层面控制变量	YES	YES	YES	YES	YES	YES
城市层面控制变量	YES	YES	YES	YES	YES	YES
年份固定效应	YES	YES	YES	YES	YES	YES
个体固定效应	YES	YES	YES	YES	YES	YES
Robust t-statistics in parentheses						
*** p<0.01, ** p<0.05, * p<0.1						
