Table 8.

Robustness check: replacement of the model

Variables	Model1	Model2	Model3	Model4	Model5
L.EFF	0.359***	0.340***	0.428***	0.417***	0.323***
	4.54	4.31	6.08	5.42	3.89
DIF	1.044***
	4.83
DIF2	− 1.739***
	− 3.33
COV		0.916***
		4.7
COV2		− 1.599***
		− 3.03
DIGI			0.953***
			4.04
DIGI2			− 1.366***
			− 3.33
INSU				0.363***
				4.37
INSU2				− 0.265***
				− 2.86
CRE					1.126***
					3.02
CRE2					− 2.561*
					− 1.95
C	0.61	0.663***	0.524***	0.524***	0.646***
	0	5.58	4.85	4.85	5.2
Control variable	YES	YES	YES	YES	YES
Individual fixation	YES	YES	YES	YES	YES
R2	0.803	0.801	0.795	0.798	0.785

Values in parentheses are t-values.

*Significant at the 10% level; **significant at the 5% level; ***significant at the 1% level.