Table 5 Robustness analysis.
Replacement of explanatory variables | ||||||
|---|---|---|---|---|---|---|
(1) | (2) | (3) | ||||
Variables | Auth_lndigital | Auth_lninvention | Auth_lnutility | |||
DIF | 0.531*** | 0.436*** | 0.391*** | |||
(−8.54) | (−8.19) | (−6.42) | ||||
Constant | −3.153*** | −3.606*** | −2.217*** | |||
(−9.29) | (−12.41) | (−6.67) | ||||
Controls | Yes | Yes | Yes | |||
Year/Industry | Yes | Yes | Yes | |||
r2_a | 0.368 | 0.277 | 0.339 | |||
Observations | 8251 | 8251 | 8251 | |||
Replacement of explanatory variables | ||||||
(1) | (2) | (3) | (4) | (5) | (6) | |
VARIABLES | lndigital | lninvention | lnutility | lndigital | lninvention | lnutility |
DIF | 0.551*** | 0.490*** | 0.359*** | |||
(9.94) | (10.16) | (8.20) | ||||
DIF_p | 0.155** | 0.138** | 0.119* | |||
(−1.99) | (−1.99) | (−1.88) | ||||
Constant | −2.062*** | −2.489*** | −1.326*** | −2.870*** | −3.008*** | −1.276*** |
(−4.51) | (−6.11) | (−3.56) | (−9.48) | (−11.42) | (−5.34) | |
Controls | Yes | Yes | Yes | Yes | Yes | Yes |
Year/Industry | Yes | Yes | Yes | No | No | No |
Year×Industry | No | No | No | Yes | Yes | Yes |
r2_a | 0.257 | 0.242 | 0.244 | 0.327 | 0.289 | 0.230 |
Observations | 11401 | 11401 | 11401 | 11396 | 11396 | 11396 |
Change in measurement model | ||||||
(1) | (2) | (3) | ||||
VARIABLES | Logit | Tobit | Poisson | |||
DIF | 0.640*** | 0.113*** | 0.254*** | |||
(−5.17) | (−5.1) | (−3.24) | ||||
L.RI | 0.130*** | 0.021*** | 0.035*** | |||
(−13.37) | (−13.51) | (−7.75) | ||||
Constant | −6.218*** | −0.617*** | −3.544*** | |||
(−8.84) | (−5.04) | (−7.71) | ||||
Controls | Yes | Yes | Yes | |||
Year/Industry | Yes | Yes | Yes | |||
Year×Industry | No | No | No | |||
r2_a | 0.223 | 0.221 | 0.0969 | |||
Observations | 9,528 | 9,528 | 9,528 | |||
