Table A2

Tangibility and WFH amenability

(1)(2)(3)(4)(5)
High remote working × COVID-190.002***    
(0.001)    
High remote working wage × COVID-19 0.002***   
 (0.001)   
High team interaction × COVID-19  0.002***  
  (0.001)  
High customer interaction × COVID-19   −0.004*** 
   (0.001) 
High Face2Face interaction × COVID-19    −0.004***
    (0.001)
Liquidity0.031***0.031***0.030***0.030***0.031***
(0.002)(0.002)(0.002)(0.002)(0.002)
Leverage−0.001***−0.001***−0.001***−0.001***−0.001***
(0.000)(0.000)(0.000)(0.000)(0.000)
Profitability0.030***0.030***0.033***0.033***0.031***
(0.007)(0.007)(0.007)(0.007)(0.007)
Size0.014***0.014***0.014***0.014***0.014***
(0.001)(0.001)(0.001)(0.001)(0.001)
Constant−0.188***−0.188***−0.186***−0.188***−0.190***
(0.013)(0.013)(0.013)(0.014)(0.013)
Firm fixed effectsYesYesYesYesYes
Country-year-quarter fixed effectsYesYesYesYesYes
Observations75,60275,60275,28575,28575,602
Adjusted R20.1950.1950.1940.1940.195

Note(s): The dependent variable is Δ tangibility. COVID-19 equals 1 for Q2’2020 - Q4’2020 and 0 otherwise. The description of all variables is presented in Table 1. The standard errors are shown in parenthesis, which are clustered at the industry level. ***, **, * denotes significance level at 1, 5 and 10% respectively

Source(s): Authors’ computations

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