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

Table 4

Influence of servitization on technical efficiency and progress in the furniture manufacturing industry.

	Δ Eff	Δ Tech
Δ Ser	12.507	0.288
	(5.007)	(1.210)
Δ Ser × Δ Eff	3.455
	(5.977)
Δ Ser × Δ Tech		10.287
		(18.582)
Hansen inspection	1.168	3.640
	[0.558]	[0.162]

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