Robustness Test: Replacing Explanatory Variables and Conducting Regression Analysis

Substitute the independent variables and conduct regression analysis to ensure the reliability of the results. This process, known as a robustness test, involves replacing the original explanatory variables with alternative measures or specifications and re-running the regression model. By observing the consistency of the results across different variable specifications, researchers can gain confidence in the stability and reliability of their findings. This approach helps to mitigate potential biases and ensure the robustness of the conclusions drawn from the analysis.