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

Table 3

Baseline regression estimates.

Variable	(1)	(2)	(3)	(4)	(5)
GLO_DIGIi,t	0.173	0.101	0.133	0.229	0.269
	[4.10]	[2.10]	[2.45]	[3.99]	[4.05]
REPAYIi,t	—	0.112	0.059	0.144	0.166
	—	[3.04]	[1.04]	[2.48]	[2.72]
CAPIIi,t	—	—	0.079	0.415	0.384
	—	—	[1.26]	[4.13]	[3.69]
SCALIi,t	—	—	—	−0.357	−0.313
	—	—	—	[−4.19]	[−3.37]
ABORDIi,t	—	—	—	—	−0.098
	—	—	—	—	[−1.19]
CONS	0.314	0.309	0.307	0.298	0.299
	[26.46]	[26.16]	[25.93]	[25.46]	[25.43]
Industry	Control	Control	Control	Control	Control
Year	Control	Control	Control	Control	Control
R^2	0.139	0.171	0.177	0.234	0.239
F-test	234.18	210.57	205.76	221.06	135.32

Note: ① the value in [] is the t statistic value of the regression coefficient, all tables are the same; ② ^∗∗∗, ^∗∗, and ^∗ indicate significance at the significance level of 1%, 5%, and 10%, respectively, and all tables are the same.