Intelligent Capital, Organizational Learning, and Corporate Performance Influence Relationship

Table 5

Organizational development mechanism test results of intelligent capital on enterprise performance.

	(1)	(2)	(3)	(4)
L. Tobin’s Q	0.361	0.363	0.301	0.401
	(0.018)	(0.019)	(0.022)	(0.019)
Human	0.195
	(0.053)
Human_Learn	0.118
	(0.008)
Innovation		1.741
		(0.575)
Innovation_Learn		10.590
		(0.665)
Process			0.169
			(0.016)
Process_Learn			0.044
			(0.006)
Customer				2.183
				(0.767)
Customer_Learn				6.014
				(0.405)
Scale	−0.160	−0.106	−0.216	−0.020
	(0.054)	(0.047)	(0.046)	(0.045)
Age	0.368	0.215	0.050	0.281
	(0.119)	(0.119)	(0.134)	(0.107)
Lev	−1.677	−2.059	−1.790	−1.994
	(0.218)	(0.200)	(0.272)	(0.200)
Investment	−0.004	0.120	0.004	0.130
	(0.039)	(0.045)	(0.043)	(0.048)
DS	0.440	0.873	0.035	1.202
	(0.351)	(0.380)	(0.368)	(0.356)
Observations	5962	5990	4631	5975
AR (1)	0.000	0.000	0.000	0.000
AR (2)	0.721	0.687	0.779	0.956
Hansen	0.210	0.077	0.334	0.091