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| Variable | Definition |
| Dependent variable | Patent | Ln (patent applications + 1) |
| Patenti | Ln (patents for invention + 1) | |
| Patentud | Ln (utility models + appearance designs + 1) | |
| Independent variable | Teamgap | Ln (the average compensation oftop three executives − the average compensation of other executives) |
| Control variable | Size | Ln (total assets) |
| Lev | Debt-to-assets ratio | |
| Top1 | The shareholding ratio of the largest shareholder | |
| CF | The net cash flow/Total assets | |
| Age | Ln(age of establishment) | |
| Tangibility | Fixed assets/Total assets | |
| Roa | Net profit/Total assets | |
| Dual | If the chairman and CEO are integrated, equals to 1, otherwise to 0 | |
| Indepen | The number of independent directors/The number of directors | |
| SOE | If it’s state-owned enterprise, equals to 1, otherwise to 0 | |
| KZ | The index of financing constraints | |
| Year | Year dummy variable | |
| Industry | Industry dummy variable |