Empirical Analysis of Influence of Furniture Manufacturing Servitization on Industry Performance Based on Big Data

Table 3

Influence of servitization on the furniture manufacturing industry.

Before the dependent variable	Δ Vapc	Δ Vapc	Δ Vapc	Δ Tfp	Δ Tfp	Δ Tfp
	2000–2014	2000–2007	2008–2014	2000–2014	2000–2007	2008–2014
Δ Ser	219.711	300.914	328.907	11.613	3.366	12.525
	(316.964)	(239.419)	(330.165)	(4.845)	(7.360)	(5.198)
Δ Ser x Δ Vapc	19.325	46.268	19.233
	(7.428)	(8.183)	(7.043)
Δ Ser x Δ Tfp				3.605	92.721	3.635
				(5.928)	(109.531)	(5.461)
Hansen statistics	1.432	1.486	0.960	1.262	0.963	1.416
	[0.489]	[0.476]	[0.619]	[0.532]	[0.326]	[0.493]
Ser partial effect	609.490	618.191	723.532	15.173	95.623	16.088

Note. () is the standard error, [] is the value, and are significant at 5% and 1% levels, respectively; the regressions used 5- and 6-order lag of independent variables as instrumental variables.