Accelerated Depreciation Tax Credit and Corporate Financialization Based on the PSM-DID Model

Table 5

Mechanism test of accelerated depreciation affecting enterprise financialization.

Dependent	DTax	FIN	FIN	RD	FIN	FIN	FASS	FIN	FIN
DID	1.282	-0.241	-0.273	0.134	-0.241	-0.255	0.055	-0.241	-0.360
	(0.12)	(0.09)	(0.03)	(0.15)	(0.09)	(0.07)	(0.11)	(0.09)	(0.07)
DTax			0.006
			(0.08)
RD						0.042
						(0.03)
FASS									0.108
									(0.07)
Obs	10,850	10,850	10,850	10,850	10,850	10,850	10,850	10,850	10,850
Samples	1085	1085	1085	1085	1085	1085	1085	1085	1085

Note: the first column is coefficient; , , and are significant at the level of 10%, 5%, and 1%, respectively.