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

Table 6

Results of robustness test 1.

Model	OLS with robust	OLS with cluster
Variable
	0.227	0.227
	(6.22)	(7.42)
	−0.00144	−0.00144
	(−8.55)	(−5.51)
	−0.0146	−0.0146
	(−5.21)	(−13.04)
	0.00678	0.00678
	(7.53)	(2.95)
	0.0961	0.0961
	(2.13)	(2.33)
	−0.0106	−0.0106
	(−3.28)	(−2.41)
	−0.412	−0.412
	(−23.63)	(−16.56)
	−0.368	−0.368
	(−24.50)	(−20.26)
	0.0195	0.0195
	(6.76)	(5.20)
	0.433	0.433
	(7.32)	(4.87)
	−0.0191	−0.0191
	(−2.48)	(−3.09)
	0.0490	0.0490
	(2.56)	(2.12)
	0.0368	0.0368
	(2.16)	(3.21)
	−0.0677	−0.0677
	(−1.93)	(−1.23)
	−0.000986	−0.000986
	(−0.48)	(−0.34)
	0.0132	0.0132
	(2.34)	(2.19)
	1.404	1.404
	(9.77)	(6.51)
F statistic	134.92	129.70
Adj_R-sq	0.2531	0.2531
Observation	7775	7775

Note. The numbers in parentheses are t-test values; ∗∗∗, ∗∗, and ∗, respectively, represent significance at 0.1%, 1%, and 5% levels.