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Financial Innovation

Table 4 Regression results of the eastern and non-eastern region

From: The power of financial support in accelerating digital transformation and corporate innovation in China: evidence from banking and capital markets

Variables

Eastern

Non-eastern

(4)

(5)

(6)

(7)

(8)

(9)

PG

PG

PG

PG

PG

PG

DT

0.1789***

0.1643***

0.1781***

0.1197***

0.0926***

0.1190***

(16.7752)

(14.8572)

(16.6832)

(7.1723)

(5.4360)

(7.1322)

FDb

 

− 0.2651***

  

− 0.2805***

 
 

(− 7.4453)

  

(− 7.0678)

 

FDb × DT

 

0.0991***

  

0.2310***

 
 

(5.0008)

  

(5.3903)

 

FDc

  

0.0108***

  

0.0054

  

(3.1656)

  

(0.6359)

FDc × DT

  

0.0050**

  

0.0296***

  

(2.2600)

  

(3.0875)

Control

Yes

Yes

Yes

Yes

Yes

Yes

Constant

− 0.1004***

0.2174***

− 0.1129***

0.0017

0.2807***

− 0.0039

(− 2.8606)

(3.8283)

(− 3.2046)

(0.0438)

(5.0999)

(− 0.0985)

Year

Yes

Yes

Yes

Yes

Yes

Yes

Id

Yes

Yes

Yes

Yes

Yes

Yes

Observations

27,011

27,011

27,011

12,971

12,971

12,971

Number of id

2920

2920

2920

1115

1115

1115

R-squared

0.255

0.258

0.256

0.256

0.261

0.256

  1. ***p < 0.01, **p < 0.05, *p < 0.1. To save space, we do not list the regression results for the controls separately
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