Table 11 The moderating effect of regional labor protection systems.

From: Does corporate digitalization promote labor investment efficiency? Evidence from Chinese listed companies

 

Strong

Weak

Strong

Weak

(1)

(2)

(3)

(4)

Digital1

−0.0099*** (−4.79)

−0.0033 (−1.42)

  

Digital2

  

−0.0735*** (−4.29)

−0.0112 (−0.47)

Controls

Yes

Yes

Yes

Yes

Constant

0.4103*** (5.39)

0.3454*** (4.30)

0.4208*** (5.52)

0.3542*** (4.44)

Year

Yes

Yes

Yes

Yes

Industry

Yes

Yes

Yes

Yes

N

15,430

11,808

15,430

11,808

Adj_R2

0.1376

0.1327

0.1360

0.1336

  1. *, ** and *** denote significance at the 10%, 5% and 1% level, respectively. T-statistics (in parentheses) are based on standard errors clustered by firm.
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