Table 9 Mechanism analysis result.
From: The impact of digital technology on total factor productivity in manufacturing enterprises
(1) Rd | (2) TFP | (3) Cost | (4) TFP | |
|---|---|---|---|---|
Dig | 0.071 *** (6.204) | 0.036 *** (4.836) | − 0.224 ** (− 2.243) | 0.042 *** (5.591) |
Rd | 0.087 *** (8.025) | |||
Cost | − 0.384 * (− 1.750) | |||
_cons | − 2.985 *** (− 4.939) | − 0.977 ** (− 2.101) | 0.664 *** (5.365) | − 0.978 ** (− 2.019) |
Controls | Yes | Yes | Yes | Yes |
Ind FE | Yes | Yes | Yes | Yes |
Pro FE | Yes | Yes | Yes | Yes |
Year FE | Yes | Yes | Yes | Yes |
N | 15,310 | 15,310 | 15,310 | 15,310 |
R2 | 0.585 | 0.412 | 0.435 | 0.412 |
