Research Article
Influence Mechanism of Marketization Process and Financial Technology Development on Enterprise Investment Preference Based on Threshold Model
Table 14
Regression results of replacement variables.
| | | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | | Variables | RD | PE | EQ | RD | PE | EQ | RD | PE | EQ |
| | Market | 0.002 | −0.036 | 0.011 | | | | | | | | | (3.43) | (−5.20) | (2.82) | | | | | | | | FinTech1 | | | | 0.007 | −0.173 | 0.041 | | | | | | | | | (6.87) | (−13.35) | (5.71) | | | | | FinTech2 | | | | | | | 0.007 | −0.165 | 0.053 | | | | | | | | | (6.21) | (−11.55) | (6.74) | | Control | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | | Year/Ind | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | | Constant | −0.034 | 0.625 | −0.819 | −0.043 | 0.769 | −0.851 | −0.045 | 0.792 | −0.875 | | | (−5.78) | (8.13) | (−19.19) | (−7.39) | (9.96) | (−19.72) | (−7.52) | (10.13) | (−20.05) | | Observations | 11,655 | 11,655 | 11,655 | 11,655 | 11,655 | 11,655 | 11,655 | 11,655 | 11,655 |
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