Panel B: Industry Adjusted Cost Flexibility and Demand Uncertainty | ||||||||
| Industry adjusted cost flexibility (β1)† | Industry adjusted demand uncertainty† | ||||||
Industry | String firms | Non- string firms | Difference | String firms | Non- string firms | Difference | ||
Consumer Durables | 0.17 | −0.03 | 0.20 | *** | −0.05 | 0.05 | −0.10 | *** |
Wholesale, Retail, and Some Services | 0.08 | −0.03 | 0.11 | *** | −0.05 | 0.05 | −0.10 | *** |
Consumer NonDurables | 0.13 | −0.03 | 0.17 | *** | −0.05 | 0.05 | −0.10 | *** |
Manufacturing | 0.12 | −0.04 | 0.16 | *** | −0.05 | 0.04 | −0.10 | *** |
Chemicals and Allied Products | 0.22 | −0.04 | 0.26 | *** | −0.07 | 0.06 | −0.13 | *** |
Other | 0.20 | −0.04 | 0.24 | *** | −0.10 | 0.05 | −0.15 | *** |
Telephone and Television Transmission | 0.19 | −0.01 | 0.20 | *** | −0.07 | 0.04 | −0.11 | *** |
Business Equipment | 0.20 | −0.04 | 0.24 | *** | −0.10 | 0.04 | −0.14 | *** |
Oil, Gas, and Coal Extraction and Products | 0.13 | −0.02 | 0.14 | *** | −0.12 | 0.06 | −0.18 | *** |
Healthcare, Medical Equipment, and Drugs | 0.43 | −0.03 | 0.45 | *** | −0.20 | 0.07 | −0.28 | *** |