[Retracted] Enterprise Digital Transformation and Stock Price Crash Risk: Evidences from China

Table 5

Analysis of mechanism: agency problems.

	(1)	(2)	(3)	(4)
	ADE	DIB	Earnings	INV_E
DCGt	−0.013	0.082	−0.014	0.005
	(0.003)	(0.040)	(0.008)	(0.003)
Controls, Year, Ind	Yes	Yes	Yes	Yes
Obs	10986	10986	10628	10176
Adj-R^2	0.193	0.158	0.051	0.040