Table 6 The results of quantile regression without the life cycle coefficient

Model 1

RC

Q = 25

Q = 50

Q = 75

 VAIC

1.83*

1.77*

4.33***

0.85

 Adj R²

0.5677

0.5145

0.5012

0.4394

Model 2

RC

Q = 25

Q = 50

Q = 75

 VACA

6.51***

4.22***

9.26***

6.11***

 Adj R²

0.7133

0.5535

0.5802

0.5721

Model 3

RC

Q = 25

Q = 50

Q = 75

 VAHU

2.05*

1.88*

4.43***

0.88

 Adj R²

0.5727

0.5143

0.5011

0.4383

Model 4

RC

Q = 25

Q = 50

Q = 75

 STVA

1.21

1.15

1.32

0.68

 Adj R²

0.5597

0.5122

0.4883

0.4331