	(1)	(2)	(3)	(4)
VARIABLES	所得税税负	所得税税负	所得税税负	所得税税负
				
DID	-0.0089379	0.0017349	0.0021040	0.0014355
	(-1.136)	(0.169)	(0.779)	(0.548)
Size	0.0093866	0.0015629	0.0004495	0.0026831
	(1.169)	(0.128)	(0.310)	(1.525)
Lev	-0.0051954	0.0277603	-0.0031524	-0.0108652***
	(-0.203)	(0.601)	(-1.263)	(-2.698)
ROA	0.5021662***	0.5299613***		
	(13.286)	(9.604)		
FirmAge	0.0014562	0.0016793	-0.0084175	-0.0077806
	(0.021)	(0.017)	(-0.923)	(-0.875)
FIXED	0.0291175	-0.0024959	-0.0028934	-0.0056598
	(0.816)	(-0.043)	(-0.200)	(-0.898)
ATO	0.0011263	0.0249015*		
	(0.083)	(1.689)		
Board	-0.0649440***	-0.0471627		
	(-2.585)	(-0.947)		
Indep	-0.1369946*	-0.0991346		
	(-1.814)	(-0.712)		
Dual	-0.0115672	-0.0194893*		
	(-1.603)	(-1.788)		
Top1	0.0069682	-0.0576528		
	(0.159)	(-0.709)		
PR			-0.0009677	-0.0014655
			(-1.006)	(-0.899)
Employee			-0.0002212	-0.0009419
			(-0.201)	(-0.706)
Constant	0.1063310	0.2525693	0.0314858	0.0127857
	(0.401)	(0.601)	(1.136)	(0.390)
				
Observations	11,829	4,047	2,568	3,180
R-squared	0.046	0.053	0.012	0.014
Number of id	2,994	957		
年份固定效应	YES	YES	YES	YES
个体固定效应	YES	YES	YES	YES
Number of firm_id			878	1,010
Robust t-statistics in parentheses				
*** p<0.01, ** p<0.05, * p<0.1				
