Research on the Digitization of Manufacturing Will Enhance the Competitiveness of the Value Chain Based on Advantage Comparison

Table 6

Robustness test.

Variable	(14)	(15)	(16)	(17)
GLO_DIGIi,t	0.245	0.153	—	0.195
	[3.71]	[2.18]	—	[3.16]
L .GLO_DIGIi,t	—	—	0.203	—
	—	—	[2.94]	—
REPAYIi,t	0.218	−0.263	0.189	0.165
	[2.94]	[−4.10]	[3.21]	[3.14]
CAPIIi,t	0.546	0.364	0.363	0.439
	[4.96]	[3.32]	[3.61]	[5.27]
SCALIi,t	−0.636	0.151	−0.328	−0.386
	[−5.65]	[1.54]	[−3.71]	[−5.37]
ABORDIi,t	0.060	−0.083	−0.065	−0.022
	[0.64]	[−0.95]	[−0.81]	[−0.32]
RDi,t	0.091	—	—	—
	[2.14]	—	—	—
PRDi,t	0.204	—	—	—
	[3.92]	—	—	—
CONS	0.319	0.363	0.284	—
	[25.81]	[29.26]	[14.86]	—
Industry	Control	Control	Control	Control
Year	Control	Control	Control	Control
R^2	0.299	0.270	0.233	0.228
F-test	109.86	143.20	139.99	2262.68
Anderson-Rubin Wald test	—	—	—	9.86
Cragg-Donald Wald F statistic	—	—	—	2258.87

Note: column (17) in the Table is estimated by using the 2SLS method under fixed effect and F-test as the first-stage F value.