Table 8 Resource-adjustment Channel.
From: Reducing asymmetric cost behaviors: Evidence from digital innovation
(1) | (2) | (3) | |
|---|---|---|---|
\({TURNOVER}\) | \({Abs\_STICK}\) | \({Abs\_STICK}\) | |
\({DI}\) | 0.0333*** (6.9231) | −0.0234*** (−2.9121) | −0.0186** (−2.2983) |
\({TURNOVER}\) | −0.1446*** (−6.3795) | ||
\({SIZE}\) | −0.0368*** (−6.3970) | −0.0037 (−0.5183) | −0.0090 (−1.2458) |
\({AGE}\) | −0.0045 (−0.2581) | −0.0133 (−0.5443) | −0.0140 (−0.5712) |
\({TANG}\) | 0.0685 (1.1805) | 0.1852* (1.9582) | 0.1951** (2.0731) |
\({GrossProfit}\) | −0.4774*** (−11.7627) | 0.5218*** (8.5516) | 0.4527*** (7.3141) |
\({LIQUID}\) | −0.0176*** (−5.5459) | −0.0009 (−0.1933) | −0.0035 (−0.7145) |
\({IncomeDD}\) | −0.1063*** (−10.4084) | 0.0209 (0.8929) | 0.0056 (0.2366) |
\({INDIR}\) | 0.0007 (0.6999) | 0.0015 (1.0464) | 0.0016 (1.1156) |
\({DUALITY}\) | −0.0032 (−0.3646) | −0.0090 (−0.6403) | −0.0094 (−0.6751) |
\({INST}\) | 0.0014*** (7.1218) | 0.0001 (0.3169) | 0.0003 (1.0276) |
\({OER}\) | −2.9489*** (−26.3728) | 1.1302*** (6.5387) | 0.7037*** (3.8286) |
\({Constant}\) | 1.7351*** (11.3093) | 0.2365 (1.2202) | 0.4874** (2.4630) |
Industry Fixed Effects | Control | Control | Control |
Year Fixed Effects | Control | Control | Control |
Firm-Level Clustering | Control | Control | Control |
R-square | 0.5265 | 0.0837 | 0.0874 |
Observations | 10820 | 10820 | 10820 |
