| Variable | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
| lnapply2 | RD | IA | ACV | lnapply2 | lnapply2 | lnapply2 | |
| DI | 0.070*** | 0.006*** | 0.184*** | 0.023*** | 0.057*** | 0.046*** | 0.066*** |
| (0.006) | (0.000) | (0.007) | (0.002) | (0.006) | (0.006) | (0.006) | |
| RD |
|
|
|
| 2.353*** |
|
|
|
|
|
|
| (0.164) |
|
| |
| IA |
|
|
|
|
| 0.128*** |
|
|
|
|
|
|
| (0.008) |
| |
| ACV |
|
|
|
|
|
| 0.179*** |
|
|
|
|
|
|
| (0.025) | |
| _cons | −7.389*** | 0.096*** | 0.782*** | −0.614*** | −7.615*** | −7.489*** | −7.279*** |
| (0.198) | (0.008) | (0.168) | (0.048) | (0.198) | (0.197) | (0.197) | |
| Control | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Industry | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| year | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| N | 16921 | 16921 | 16921 | 16921 | 16921 | 16921 | 16921 |
| r2 | 0.226 | 0.318 | 0.412 | 0.121 | 0.237 | 0.241 | 0.228 |
| r2_a | 0.225 | 0.316 | 0.410 | 0.119 | 0.235 | 0.239 | 0.227 |