Table 4 Robustness test results.

From: Export duration and firm markups: evidence from China

 

Key indicator substitution

Considering lag effect

System GMM

IV estimation

Excluding the impact of China’s entry into WTO

Balanced panel

 

(1)

(2)

(3)

(4)

(5)

(6)

Export_T

0.0021** (0.0010)

 

0.3089** (0.1533)

0.0288*** (0.0073)

0.0039*** (0.0014)

0.0035* (0.0018)

L.Export_T

 

0.0051* (0.0028)

    

Control variables

Yes

Yes

Yes

Yes

Yes

Yes

Firm FEs

Yes

Yes

Yes

Yes

Yes

Yes

Year FEs

Yes

Yes

Yes

Yes

Yes

Yes

AR(1)

  

0.000

   

AR(2)

  

0.307

   

Hansen test

  

0.268

   

Anderson canon. corr. LM statistic

   

3452.13

  

Cragg-Donald Wald F statistic

   

3544.70

  

Observations

220,040

121,910

121,910

189,948

209,734

2512

R2

0.029

0.009

–

–

0.007

0.015

  1. (1) The P values for the first-, second-, and third-order serial correlation tests of the residuals of the difference equation in GMM estimation, respectively, are designated as AR(1), AR(2), and AR(3). (2) The P values of the overidentification test of the instrumental variables in GMM estimation are contained in the Hansen test row. (3) Cragg-Donald Wald F statistic reports the results of the weak identification test of IV. (4) Anderson canon. corr. LM statistic reports the results of the underidentification test of IV.
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