| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) |
lpatent | lpatent | lpatent | lInvention | lInvention | lInvention | lstargepa | lstargepa | lstargepa | |
dum_t | 0.153 | 0.356* | −0.909** | 0.505*** | 0.570*** | 0.0669 | −0.173 | 0.0983 | 1.415*** |
| (0.92) | (1.92) | (−2.39) | (3.00) | (3.11) | (0.16) | (−0.92) | (0.46) | (−3.36) |
dum_u | 0.222 | 0.338 | −0.498 | 0.244 | 0.291 | −0.0571 | 0.128 | 0.306 | −0.838* |
| (1.19) | (1.61) | (−1.19) | (1.29) | (1.41) | (−0.13) | (0.60) | (1.28) | (−1.81) |
dum_t#dum_u | −0.144 | −0.276 | 0.611 | −0.209 | −0.224 | 0.0296 | 0.0120 | −0.212 | 1.080** |
| (−0.75) | (−1.26) | (1.43) | (−1.07) | (−1.04) | (−0.06) | (0.05) | (−0.85) | (2.28) |
L.log_Total | 0.594*** | 0.584*** | 0.660*** | 0.592*** | 0.595*** | 0.572*** | 0.534*** | 0.533*** | 0.581*** |
| (32.01) | (27.94) | (15.65) | (31.55) | (28.84) | (12.44) | (25.38) | (22.33) | (12.44) |
L.cap_exp | −0.842** | −0.876* | −0.941 | 0.0757 | 0.294 | −0.738 | −1.908*** | −2.081*** | −1.471 |
| (−2.07) | (−1.87) | (−1.14) | (0.18) | (0.64) | (−0.82) | (−4.13) | (−3.89) | (−1.62) |
L.Leverage | −0.000464 | −0.000458 | −0.00826 | −0.0000193 | −0.0000406 | 0.000599 | −0.000992 | −0.000973 | −0.0130 |
| (−0.84) | (−0.82) | (−0.48) | (−0.03) | (−0.07) | (0.03) | (−1.58) | (−1.52) | (−0.69) |
L.Borad_size | −0.0396*** | −0.0526*** | 0.0206 | −0.00241 | −0.0295** | 0.0981*** | −0.0607*** | −0.0699*** | −0.0309 |
| (−3.48) | (−3.98) | (0.90) | (−0.21) | (−2.26) | (3.94) | (−4.71) | (−4.63) | (−1.22) |
L.logQ | 0.0818*** | 0.0664*** | 0.127*** | 0.0943*** | 0.0695*** | 0.169*** | 0.00285 | 0.0302 | −0.0480 |
| (4.85) | (3.21) | (4.42) | (5.53) | (3.40) | (5.42) | (0.15) | (1.28) | (−1.51) |
_cons | −10.34*** | −10.17*** | −11.33*** | −11.98*** | −11.83*** | −12.03*** | −9.028*** | −9.188*** | −9.066*** |
| (−24.09) | (−20.98) | (−11.68) | (−27.59) | (−24.74) | (−11.40) | (−18.54) | (−16.59) | (−8.45) |
N | 3374 | 2560 | 814 | 3374 | 2560 | 814 | 3374 | 2560 | 814 |
r2 | 0.247 | 0.254 | 0.247 | 0.258 | 0.280 | 0.204 | 0.176 | 0.178 | 0.187 |