Table 13 The moderating effect of state ownership.

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

 

NSOEs

SOEs

NSOEs

SOEs

(1)

(2)

(3)

(4)

Digital1

−0.0113*** (−5.19)

−0.0021 (−0.93)

  

Digital2

  

−0.0667*** (−3.28)

−0.0250 (−1.25)

Controls

Yes

Yes

Yes

Yes

Constant

0.4904*** (6.09)

0.2601*** (3.36)

0.5049*** (6.25)

0.2619*** (3.39)

Year

Yes

Yes

Yes

Yes

Industry

Yes

Yes

Yes

Yes

N

15,034

12,204

15,034

12,204

Adj_R2

0.1752

0.0794

0.1749

0.0789

  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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