[Retracted] Empirical Research on the Relationship between Industry Working Capital Shortfall and Company Cash Holding in the Same Industry

Table 5

The regression result of validating Hypothesis 2.

Model	Fixed effect regression I	Fixed effect regression II
Variable
	0.741	0.773
	(16.62)	(15.10)
	1.993	2.298
	(24.76)	(22.39)
	0.0295	0.0103
	(3.46)	(6.78)
	−7.309	−6.327
	(−46.46)	(−40.46)
	0.338	0.131
	(3.25)	(2.81)
	−0.156	−0.213
	(−2.46)	(−1.40)
	−0.4844	−0.4158
	(−19.48)	(−14.53)
		−1.192
		(−36.55)
		−6.147
		(−12.16)
	0.0615	0.0647
	(7.58)	(6.01)
F statistic	103.59	83.79
Adj_R-sq	0.2426	0.2192
Observation	5677	5677

Note. The numbers in parentheses are t-test values; ∗∗∗, ∗∗, and ∗, respectively, represent significance at 0.1%, 1%, and 5% levels. The bold values signify the important results explained in the text.