Research Article
[Retracted] Exploring the Influence of Local Government Debt on Enterprise Investment through the Empirical Evidence at the Municipal Level
Table 9
Regression of debt financing and corporate investment.
| Variables | (1) | (2) | (3) | (4) | (5) | Whole sample | State-owned enterprise | Non-state-owned enterprise | Invet to the industry | Invet not to the industry | Invest | Invest | Invest | Invest | Invest |
| Loan | 0.146 | 0.234 | 0.068 | 0.124 | 0.023 | (17.54) | (11.36) | (14.17) | (16.54) | (8.64) | Adjusted R2 | 0.314 | 0.185 | 0.264 | 0.288 | 0.184 | Individual effect | Yes | Yes | Yes | No | Yes | The annual effect | Yes | No | Yes | No | Yes | Control variable | Yes | Yes | Yes | Yes | No | F | 64.38 | 28.65 | 38.46 | 58.64 | 13.56 |
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