Table 7 Regression analysis for SC_adjusted
From: Does supplier concentration matter to investors during the COVID-19 crisis: evidence from China?
Variables | R[− 1, 1] All | R[− 2, 2] All | R[− 1, 1] Secondary | R[− 2, 2] Secondary | \({R}^{{{\prime}}{{\prime}}}\)[− 1, 1] All | \({R}^{{{\prime}}{{\prime}}}\)[− 2, 2] All | \({R}^{{{\prime}}{{\prime}}}\)[− 1, 1] Secondary | \({R}^{{{\prime}}{{\prime}}}\)[− 2, 2] Secondary | \({R}^{{{\prime}}{{\prime}}}\)[− 2, 100] All | \({R}^{{{\prime}}{{\prime}}}\)[− 2, 100] Secondary |
|---|---|---|---|---|---|---|---|---|---|---|
SC_adjusted | − 3.001** (− 2.04) | − 3.923 (− 2.14) | − 2.813** (− 2.27) | − 4.098** (− 2.17) | − 4.125*** (− 3.04) | − 5.364** (− 2.35) | − 7.254*** (− 4.58) | − 8.012*** (− 4.41) | − 10.213** (− 2.21) | − 16.354** (− 2.26) |
LnAsset | 1.408*** (4.22) | 51.582*** (4.26) | 1.674*** (4.14) | 1.915*** (3.70) | 1.013*** (3.71) | 1.214*** (4.01) | 1.243*** (4.59) | 1.565*** (4.57) | 1.653*** (3.98) | 2.017*** (4.49) |
BM | − 5.177*** (− 6.52) | − 5.834*** (− 5.89) | − 4.615*** (− 5.11) | − 5.026** (− 4.19) | − 4.479*** (− 4.22) | − 5.932*** (− 4.32) | − 5.232*** (− 3.78) | − 6.458*** (− 3.27) | − 13.503*** (− 4.61) | − 16.519*** (− 4.57) |
Leverage | − 4.845* (− 1.97) | − 6.847*** (− 6.63) | − 6.168** (− 2.23) | − 8.303*** (− 6.37) | − 2.113 (− 1.44) | − 3.786** (− 2.34) | − 3.259* (− 1.74) | − 4.568** (− 2.56) | − 13.335 (− 1.43) | − 15.636* (− 1.66) |
Constant | − 5.058** (− 2.22) | − 2.698 (− 1.48) | − 4.776* (− 1.79) | − 2.819 (− 1.31) | 1.987 (0.49) | 2.429 (1.26) | 1.738 (0.56) | 2.286 (1.19) | 20.453*** (4.25) | 22.135*** (4.97) |
Location FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Observations | 1965 | 1965 | 1558 | 1558 | 1965 | 1965 | 1558 | 1558 | 1965 | 1558 |
R-squared | 0.131 | 0.114 | 0.147 | 0.129 | 0.165 | 0.146 | 0.171 | 0.150 | 0.099 | 0.123 |