Table 5. Heterogeneity checks Variables...

Table 5.

Heterogeneity checks

Variables	M1	M2	M3
$S h o r t \times d i g i t a l \times S O E$			−0.2212 (0.2428)
$S h o r t \times d i g i t a l \times n o n - S O E$			0.3012*** (0.0012)
$S h o r t \times d i g i t a l \times L O W T E R_{a n a l y s t}$		0.3376*** (0.0025)
$S h o r t \times d i g i t a l \times M E D T E R_{a n a l y s t}$		0.0336 (0.0310)
$S h o r t \times d i g i t a l \times H I G H T E R_{a n a l y s t}$		0.0382 (0.0311)
$S h o r t \times d i g i t a l \times L O W T E R_{C G I}$	0.0312*** (0.0012)
$S h o r t \times d i g i t a l \times M E D T E R_{C G I}$	−0.0428 (0.1237)
$S h o r t \times d i g i t a l \times H I G H T E R_{C G I}$	−0.0339 (0.1362)
Control variables	Yes	Yes	Yes
Company Fixed	Yes	Yes	Yes
Year Fixed	Yes	Yes	Yes
_Cons	0.3421***	0.3382***	0.3454***
	(0.0000)	(0.0000)	(0.0000)
N	35,635	35,635	35,635
Adjust $R^{2}$	0.0636	0.7144	0.08421

Notes:

Control variables are in Table 1. *, ** and ***indicate statistical significance at the 10, 5 and 1% levels, respectively. The standard errors are corrected for clustering at the firm level. The dependent in M1, M2 and M3 is CGI, analyst coverage and ownership, respectively

Source: This table is offered by authors

[ViewLarge]

Sharing Unavailable