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Table 13 Regression result of alternative measure of CCEI

From: Cloud economy and its relationship with China’s economy—a capital market-based approach

 

(1)

(2)

(3)

(4)

(5)

(6)

(7)

Model

A-2

B-2

C-2

D-2

E-2

F-2

G-2

Variables

SSE

SSE

SSE

SSE

SSE

SSE

SSE

\(\beta_{1} \left( {FACTOR1} \right)\)

0.022***

0.019***

0.022***

0.019***

0.024***

0.022***

0.028***

 

(0.001)

(0.003)

(0.001)

(0.003)

(0.001)

(0.003)

(0.003)

\(\beta_{2} \left( {GEM} \right)\)

 

0.090

 

0.086

 

0.047

 − 0.112

  

(0.066)

 

(0.067)

 

(0.068)

(0.068)

\(\beta_{3} \left( {DUM} \right)\)

  

 − 0.003

 − 0.003

 − 0.002

 − 0.002

 − 0.004**

   

(0.002)

(0.002)

(0.002)

(0.002)

(0.002)

\(\beta_{4} \left( {FACTOR1*DUM} \right)\)

    

 − 0.006***

 − 0.006**

 − 0.027***

     

(0.002)

(0.002)

(0.005)

\(\beta_{5} \left( {GEM*DUM} \right)\)

      

0.691***

       

(0.137)

\(\beta_{6} \left( {{\text{Constant}}} \right)\)

0.001

0.001

0.002

0.001

0.002

0.001

0.002**

 

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

Observations

451

451

451

451

451

451

451

Adjusted R2

0.574

0.577

0.575

0.578

0.584

0.585

0.615

  1. Robust standard errors in parentheses. ***p < 0.01, **p < 0.05, *p < 0.1