Intelligent Capital, Organizational Learning, and Corporate Performance Influence Relationship

Table 3

Robustness test results.

	(1)	(2)	(3)	(4)
L. Tobin’s Q	0.301	0.278	0.432	0.211
	(0.029)	(0.026)	(0.018)	(0.028)
hu3	0.149	0.447	0.453	0.556
	(0.081)	(0.073)	(0.098)	(0.087)
in1	−1.315	−3.664	−0.935	−2.105
	(0.929)	(1.291)	(0.547)	(1.021)
pr3	0.260	0.282	0.374	0.269
	(0.033)	(0.031)	(0.075)	(0.028)
cu1	2.487	3.501	2.465	0.383
	(1.166)	(1.429)	(0.604)	(0.117)
Scale	−0.201	−0.620	−0.483	−0.828
	(0.057)	(0.060)	(0.098)	(0.092)
Age	−0.295	−0.230	0.192	−0.027
	(0.164)	(0.163)	(0.125)	(0.185)
Lev	−1.815	−1.059	−1.574	−1.579
	(0.205)	(0.273)	(0.255)	(0.362)
Investment	0.049	0.069	0.255	0.076
	(0.052)	(0.045)	(0.053)	(0.045)
DS	−0.223	−1.885	0.019	−1.701
	(0.500)	(0.492)	(0.425)	(0.658)
Observations	4584	4583	5895	4523
AR (1)	0.000	0.000	0.000	0.000
AR (2)	0.694	0.845	0.318	0.797
Hansen	0.655	0.618	0.159	0.158