Benchmark regression results
Table 6 presents the benchmark regression results, with control variables introduced incrementally. In Column (1), we report the results without any control variables. Notably, the coefficient for the CCP is −0.3763…
Table 6 presents the benchmark regression results, with control variables introduced incrementally. In Column (1), we report the results without any control variables. Notably, the coefficient for the CCP is −0.3763…