VARIABLES | (1) EnvInnov | (2) EnvInnov | (3) EnvInnov |
HHI | 0.081*** |
|
|
| (0.022) |
|
|
Top4 |
| 0.108*** |
|
|
| (0.025) |
|
LernerIndex |
|
| 0.073*** |
|
|
| (0.018) |
Leverage | 0.029 | 0.008 | 0.025 |
| (0.020) | (0.022) | (0.020) |
ROA | −0.012 | −0.019 | −0.005 |
| (0.018) | (0.020) | (0.018) |
Size | 0.175*** | 0.177*** | 0.188*** |
| (0.031) | (0.034) | (0.031) |
Capex | 0.066** | 0.078*** | 0.076*** |
| (0.026) | (0.029) | (0.026) |
SalesGrowth | −0.059*** | −0.053*** | −0.061*** |
| (0.013) | (0.015) | (0.013) |
Cash | 0.014 | 0.016 | 0.016 |
| (0.019) | (0.022) | (0.019) |
Tangibility | −0.007 | −0.012 | −0.005 |
| (0.020) | (0.022) | (0.020) |
NWC | −0.007 | −0.013 | −0.004 |
| (0.021) | (0.023) | (0.021) |
Constant | 0.741 | 0.684 | 0.796 |
| (0.499) | (0.483) | (0.502) |
Observations | 19,700 | 17,077 | 19,833 |
Year dummies | YES | YES | YES |
Country dummies | YES | YES | YES |
Robust SE | YES | YES | YES |