Table 10 Moderation effects: software investment.

LnSW

0.063^**

0.057^*

0.046

(2.62)

(1.98)

(1.64)

PI

−0.028

−0.004

0.006

(−0.57)

(−0.06)

(0.10)

LnSW × PI

−0.009

0.010

(−0.64)

(0.84)

LnSW × PI²

−0.016^***

(−3.00)

R&D

0.637

0.868

1.383

(0.76)

(1.01)

(1.54)

Urba

−1.560^**

−1.696^**

−1.750^**

(−2.22)

(−2.33)

(−2.59)

Str

0.001

0.049

0.064

(0.01)

(0.27)

(0.40)

Gov

−0.021

−0.412

−1.025

(−0.02)

(−0.34)

(−0.91)

_cons

1.347^**

1.450^**

1.571^***

(2.25)

(2.36)

(2.76)

Year FE

YES

YES

YES

Individual FE

YES

YES

YES

N

108

108

108

r2_a

0.895

0.894

0.902

r2_within

0.199

0.202

0.272

F

5.086^***

4.269^***

4.024^***