Table 1.
Digitalization keyword lexicon.
Table 2.
Basic definitions of key variables and descriptive statistics.
Table 3.
Baseline regression results.
Table 4.
Robustness check by controlling for multidimensional fixed effects and excluding data from the pandemic period.
Table 5.
Robustness check by replacing explanatory variables and controlling for firm strategic behavior.
Table 6.
Handling of endogeneity issues.
Table 7.
The mediating effect of production management.
Table 8.
The mediating effect of internal control.
Table 9.
Results of heterogeneity analysis based on property rights.
Table 10.
Heterogeneity analysis based on the level of industry chain dependence.
Table 11.
Moderating effect of industry-wide digitalization level.