Research Article
[Retracted] Enterprise Digital Transformation and Stock Price Crash Risk: Evidences from China
Table 9
Robustness test: longer forecast windows.
| | (1) | (2) | (3) | (4) | (5) | (6) | NCSKEWt+1 | DUVOLt+1 | NCSKEWt+1 | DUVOLt+1 | NCSKEWt+1 | DUVOLt+1 |
| L.DCGt | −0.215 | −0.141 | | | | | | (0.040) | (0.027) | | | | | DCGt | | | −0.219 | −0.153 | −0.234 | −0.152 | | | | (0.047) | (0.033) | (0.071) | (0.050) | Controls, Year, Ind | Yes | Yes | Yes | Yes | Yes | Yes | Obs | 7985 | 7985 | 6283 | 6283 | 4698 | 4698 | Adj-R2 | 0.11 | 0.114 | 0.095 | 0.098 | 0.087 | 0.095 |
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