Variable | 1 | 2 | 3 | 4 | 5 | 6 |
Ln (Private R&D investment) | Ln (New product sales) | Ln (Number of patents) | Ln (Private R&D investment) | Ln (New product sales) | Ln (Number of patents) | |
Method | OLS | OLS | OLS | Threshold regression | Threshold regression | Threshold regression |
Ln (R&D subsidy) | 1.573*** | 1.231** | 0.0674** |
|
|
|
(0.127) | (0.736) | (0.0371) |
|
|
| |
Ln (R&D subsidy) *T1 |
|
|
| 1.413** | 0.867** | 0.043** |
|
|
| (0.872) | (0.521) | (0.0283) | |
Ln (R&D subsidy) *T2 |
|
|
| 2.012*** | 1.508** | 0.104*** |
|
|
| (0.984) | (0.713) | (0.009) | |
Ln (R&D subsidy) *T3 |
|
|
| −0.865** | −0.718* | 0.063** |
|
|
| (0.476) | (0.616) | (0.032) | |
Ln (Researchers) | 0.071* | 0.025* | 0.064*** | 0.084** | 0.062*** | 0.074*** |
(0.035) | (0.018) | (0.023) | (0.047) | (0.009) | (0.026) | |
Ln (workers) | 0.019 | 0.076 | 0.043 | 0.013 | 0.014 | 0.032 |
(0.391) | (0.277) | (0.223) | (0.199) | (1.326) | (0.387) | |
Firm’s age | 0.156** | 0.034** | 0.065** | 0.211** | 0.005** | 0.044** |
(0.073) | (0.021) | (0.381) | (0.196) | (0.003) | (0.028) | |
Shareholding structure | 0.122 | 0.245** | 0.345* | 0.109* | 0.209** | 0.453** |
(1.98) | (2.181) | (1.832) | (1.891) | (0.123) | (0.251) | |
_cons | 1.321** | 0.324*** | 2.143** | 2.675*** | 2.467*** | 1.695*** |
| (0.712) | (0.019) | (1.563) | (0.489) | (0.972) | (0.278) |
N | 6715 | 6715 | 6715 | 6715 | 6715 | 6715 |
adj. R2 | 0.083 | 0.081 | 0.067 | 0.111 | 0.131 | 0.139 |