| Variables | Coefficient and significance level | |
| LnL | 0.337*** | 0.342*** |
| (0.023) | (0.023) | |
| LnK | 0.041*** | 0.040*** |
| (0.015) | (0.015) | |
| LnM | 0.498*** | 0.499*** |
| (0.018) | (0.018) | |
| LnEN | 0.161*** | 0.157*** |
| (0.017) | (0.018) | |
| DE | 0.099* | 0.098* |
| (0.054) | (0.055) | |
| IDE | 0.019 | 0.034 |
| (0.065) | (0.067) | |
| LnAGE | 0.067* | 0.067* |
| (0.040) | (0.040) | |
| LnCU | 0.117 | 0.116 |
| (0.111) | (0.112) | |
| LnHU | 0.560*** | 0.510*** |
| (0.100) | (0.102) | |
| RD | 0.019 | 0.004 |
| (0.044) | (0.045) | |
| FDI | 0.011 | 0.007 |
| (0.074) | (0.074) | |
| ID | No | Yes |
| RG | No | Yes |
| R-squared | 0.8560 | 0.8583 |
| Adj R-squared | 0.8544 | 0.8550 |