| 变量 | (1) | (2) |
|---|---|---|
| Spread1 | Spread2 | |
| Rating×Post×Lowlegal | -0.112** (-1.989) | -0.132** (-2.292) |
| Rating×Post | -0.246*** (-6.110) | -0.211*** (-5.136) |
| Rating×Lowlegal | -0.025 (-0.579) | -0.030 (-0.684) |
| Post×Lowlegal | 2.178** (2.112) | 2.566** (2.441) |
| Rating | -0.498*** (-14.809) | -0.514*** (-14.993) |
| Post | 4.102*** (5.491) | 3.250*** (4.267) |
| Lowlegal | 0.805 (1.032) | 0.913 (1.148) |
| Baseline controls | Yes | Yes |
| Observations | 4 468 | 4 468 |
| R-squared | 0.658 | 0.663 |
| CRA FE | YES | YES |
| Industry FE | YES | YES |
| Year-Month FE | YES | YES |
