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Financial Innovation

Table 3 The effect of TRRRCs on access to finance

From: Does access to credit reduce SMEs’ tax avoidance? Evidence from a regression discontinuity design

 

75% CCTF

CCTF

150% CCTF

(1)

(2)

(3)

(4)

(5)

(6)

\(SME\)

0.154**

0.143**

0.159***

0.204***

0.176***

0.186***

 

(0.063)

(0.072)

(0.057)

(0.058)

(0.043)

(0.049)

Polynomial

Linear

Quadratic

Linear

Quadratic

Linear

Quadratic

Covariates

No

Yes

Yes

No

No

Yes

Sample size

1532

2921

1844

4843

3718

6,686

  1. \(SME\) is an indicator variable that is equal to one if the firm's operation revenue was below the threshold of operation revenue. The outcome variable is \(TRC\), which is equal to one if a firm obtains a better access to finance. The discontinuity estimates are based on local linear/quadratic regressions. Standard errors are in the parentheses. *, **, and *** represent statistical significance level at the 1%, 5% and 10% levels, respectively
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