Does the Stock Market Affect the Real Economy? An Empirical Analysis Based on China’s Stock Market Liquidity

Table 10

Inspection of the information transmission mechanism.

Dependent variable:	(a)	(b)	(c)
		−0.0033	−0.0035	−0.0038
(−2.76)		(−2.20)	(−3.13)
	−0.0001	−0.0004	−0.0003
	(−3.21)	(−5.61)	(−6.50)
Control	Yes	Yes	Yes
Firm	Yes	Yes	Yes
Year	Yes	Yes	Yes
	17515	9133	17515
	0.088	0.126	0.090