Big Data Analysis on the Effect of Cost Stickiness on Digital Transformation

Table 5

The results of robustness analysis.

	FE	DID	Replacing the core variable
Lnincome × D × N	0.0490		0.0258
	(0.0202)		(4.532)
Lnincome × D × treat × post		0.0592
		(3.940)
Observations	12655	16444	12655
R-squared	0.8190	0.7947	0.8856
Control	Yes	Yes	Yes
Industry and year FE	Yes	Yes	Yes