lpatent

lInvention

lstargepa

dum_t

0.153

0.505***

−0.173

(0.92)

(3.00)

(−0.92)

dum_u

0.222

0.244

0.128

(1.19)

(1.29)

(0.60)

dum_t#dum_u

−0.144

−0.209

0.0120

(−0.75)

(−1.07)

(0.05)

L.log_Total

0.594***

0.592***

0.534***

(32.01)

(31.55)

(25.38)

L.cap_exp

−0.842**

0.0757

−1.908***

(−2.07)

(0.18)

(−4.13)

L.Leverage

−0.000464

−0.0000193

−0.000992

(−0.84)

(−0.03)

(−1.58)

L.Borad_size

−0.0396***

−0.00241

−0.0607***

(−3.48)

(−0.21)

(−4.71)

L.logQ

0.0818***

0.0943***

0.00285

(4.85)

(5.53)

(0.15)

_cons

−10.34***

−11.98***

−9.028***

(−24.09)

(−27.59)

(−18.54)

N

3374

3374

3374

r2

0.247

0.258

0.176