Table 2 The impact of industrial robot adoption on firm’s trade credit.
From: The impact of industrial robot adoption on firm’s trade credit
(1) | (2) | (3) | |
|---|---|---|---|
VARIABLES | Credit | Credit | Credit |
lnexposure | 0.009*** | 0.004*** | 0.005** |
(7.95) | (3.57) | (2.48) | |
Size | 0.022*** | 0.011*** | |
(7.89) | (2.86) | ||
Age | 0.002 | 0.031*** | |
(0.38) | (5.54) | ||
ROA | −0.347*** | −0.103*** | |
(−12.77) | (−6.01) | ||
LEV | −0.274*** | −0.120*** | |
(−10.01) | (−7.27) | ||
Growth | 0.013*** | 0.004*** | |
(4.42) | (2.72) | ||
CashFlow | 0.000 | 0.090*** | |
(0.01) | (7.21) | ||
PPE | −0.087*** | 0.009 | |
(−5.91) | (0.63) | ||
SOE | 0.038*** | 0.022** | |
(6.61) | (2.55) | ||
Top1 | 0.000** | 0.000** | |
(2.33) | (2.24) | ||
Inst | 0.000 | −0.000* | |
(0.52) | (−1.83) | ||
Dual | 0.000 | −0.002 | |
(0.05) | (−0.70) | ||
Indep | −0.001 | 0.000 | |
(−1.48) | (0.97) | ||
Board | 0.011 | 0.014 | |
(0.75) | (1.41) | ||
StaffIntensity | −0.013*** | −0.010*** | |
(−7.09) | (−5.59) | ||
MarketShare | 0.004 | 0.246*** | |
(0.06) | (3.58) | ||
Constant | 0.138*** | −0.314*** | −0.211** |
(42.23) | (−4.77) | (−2.41) | |
N | 11,162 | 11,162 | 11,139 |
Firm fixed effect | NO | NO | YES |
Year fixed effect | NO | NO | YES |
Adj-R2 | 0.024 | 0.199 | 0.803 |
