| Id |
Subject |
Object |
Predicate |
Lexical cue |
| T230 |
0-4 |
Sentence |
denotes |
4.4. |
| T231 |
5-25 |
Sentence |
denotes |
Endogeneity Concerns |
| T232 |
26-136 |
Sentence |
denotes |
To address the endogeneity concerns, we apply a two-stage least squares (2SLS) instrumental variable approach. |
| T233 |
137-280 |
Sentence |
denotes |
In the first-stage regression, we regress the continued increase of public health threats on two instrument variables (IMMIGRANT and EMIGRANT). |
| T234 |
281-507 |
Sentence |
denotes |
Here, IMMIGRANT is the six-day mean value of the ratio of the daily provincial immigrants to the national immigrants; and EMIGRANT is the six-day mean value of the ratio of the daily provincial emigrants to national emigrants. |
| T235 |
508-578 |
Sentence |
denotes |
The daily mobility data is collected from the Baidu Migration website. |
| T236 |
579-908 |
Sentence |
denotes |
Based on Jia et al. [10] and Kraemer et al.’s [9] findings, we argue that when the provincial immigrant (emigrant) rate is increased, the new COVID-19 cases are more (less) likely to be confirmed for the out-in (in-out) human mobility, enhancing (decreasing) the likelihood to face the continued increasing public health threats. |
| T237 |
909-1092 |
Sentence |
denotes |
We report the first-stage regression results in Column (A) of Table 7, where we regression CIPHT on all two instruments and the control variables added in the second-stage regression. |
| T238 |
1093-1200 |
Sentence |
denotes |
We find that the coefficient of EMIGRANT is negative and significant, which consistent with our conjecture. |
| T239 |
1201-1275 |
Sentence |
denotes |
Columns (B) and (C) of Table 7 report the second-stage regression results. |
| T240 |
1276-1458 |
Sentence |
denotes |
We find that the coefficient of Predicted_CIPHT, estimated from the first-stage regression, is negatively and significantly associated with CAR [−1, 1] and CAR [−2, 2], respectively. |
| T241 |
1459-1673 |
Sentence |
denotes |
Accordingly, the robust results based on the 2SLS approach mitigate endogeneity concerns and strengthen the main inference that continued increasing public health threats significantly influence market performance. |
