The Correlation between Enterprise Internal Control Quality and Research and Development Investment Intensity

Table 5

Robustness test by changing the internal control measure index.

Variable	Model 1 R&D	Model 2 Cash	Model 3 R&D
ICQ	0.00098 (3.17)	0.0286 (3.00)	0.00096 (3.02)
Cash			0.0087 (3.76)
Constant	0.103 (9.04)	0.31 (6.83)	0.104 (10.98)
Observations	7530	7530	7530
R^2	0.0183	0.0622	0.0198

Note., , and indicate that the coefficient significance levels are 10%, 5%, and 1%, respectively. The smaller the percentage value is, the more significant the relationship is. The data in parentheses are T values.