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

Table 8

Endogenous problems: DID.

	(1)	(2)	(3)	(4)
	NCSKEWt+1	DUVOLt+1	NCSKEWt+1	DUVOLt+1
Timet×Treatt	−0.108	−0.058
	(0.040)	(0.027)
Timet × Treatt × DCGt			−0.193	−0.122
			(0.022)	(0.015)
Controls, Year, Ind	Yes	Yes	Yes	Yes
Observations	10986	10986	10986	10986
Adj-R^2	0.089	0.092	0.097	0.100