Table 8. Probit model regression... | Emerald Publishing

Table 8.

Probit model regression

Variable	(1)	(2)	(3)
Variable	If_Explore	If_Exploit	If_Balance
Digital	0.173*** (0.025)	0.127*** (0.024)	0.167*** (0.025)
Constant term	0.452 (0.286)	−0.074 (0.277)	0.603** (0.272)
Control variable	Control	Control	Control
Industry/year fixed effects	Yes	Yes	Yes
Sample size	20,978	20,978	20,978
Pseudo R²	0.222	0.229	0.227

Variable	(1)	(2)	(3)
Variable	If_Explore	If_Exploit	If_Balance
Digital	0.173*** (0.025)	0.127*** (0.024)	0.167*** (0.025)
Constant term	0.452 (0.286)	−0.074 (0.277)	0.603** (0.272)
Control variable	Control	Control	Control
Industry/year fixed effects	Yes	Yes	Yes
Sample size	20,978	20,978	20,978
Pseudo R²	0.222	0.229	0.227

Note(s):

Estimated coefficients are the average marginal effects of the variables

Source(s): Table created by the authors