Table 3 The effect of corporate digital development on labor investment efficiency.
Dependent variable = Ablabor | ||||
|---|---|---|---|---|
(1) | (2) | (3) | (4) | |
Digital1 | −0.0187*** (−15.41) | −0.0070*** (−4.27) | ||
Digital2 | −0.1301*** (−10.60) | −0.0498*** (−3.31) | ||
Mtb | 0.0138*** (6.83) | 0.0139*** (6.86) | ||
Size | −0.0089*** (−3.50) | −0.0096*** (−3.79) | ||
Quick | −0.0051*** (−3.08) | −0.0051*** (−3.12) | ||
Lev | −0.0266** (−2.20) | −0.0260** (−2.15) | ||
Divd | −0.0223*** (−5.75) | −0.0230*** (−5.94) | ||
Sdcfo | −0.0540 (−1.41) | −0.0496 (−1.29) | ||
Sdsale | 0.0178** (2.19) | 0.0170** (2.08) | ||
Tangib | −0.0600*** (−5.15) | −0.0578*** (−4.95) | ||
Loss | 0.0313*** (5.80) | 0.0314*** (5.82) | ||
Inst | −0.0176 (−1.08) | −0.0175 (−1.07) | ||
Sdhire | 0.0050*** (5.49) | 0.0050*** (5.50) | ||
Labor | −0.2985*** (−12.02) | −0.3033*** (−12.21) | ||
Abinv | 0.2635*** (4.36) | 0.2637*** (4.35) | ||
Constant | 0.1906*** (66.98) | 0.3822*** (6.53) | 0.1718*** (80.01) | 0.3905*** (6.67) |
Year | No | Yes | No | Yes |
Industry | No | Yes | No | Yes |
N | 27,238 | 27,238 | 27,238 | 27,238 |
Adj_R2 | 0.0174 | 0.1693 | 0.0064 | 0.1700 |
