Variables

Symbols

Full name of variables

The definition of variables

Dependent variable

INNO_T

Innovation

Natural logarithm of total number of patents at the end of year t + 2

INNO_TR

Innovation

Natural logarithm of total number of patents pro ratio at the end of year t + 2 (Robust test)

Independent variable

OVERSEA_M

Mean overseas social capital

Mean number of people in executive team who have oversea working experiences at year t

Mediate variable

PRESTIGE

Prestige in network

The degree centrality of the listed firm’s whole network at the end of year t + 1

POWER

Power in network

The effect size in the listed firm’s whole network at the end of year t + 1

Moderate variable

GOVENMENT_M_N

Mean government social capital

Mean number of people in executive team who have national government working experiences at year t

GOVENMENT_M_P

Mean government social capital

Mean number of people in executive team who have provincial government working experiences at year t (Robust test)

Control variable

SCALE

Scale of the enterprise

Natural logarithm of the number of the employees at the end of year t

AGE

Age of the enterprise

Length of time from the founding year to the year t

SOE

Nature of actual controller

Dumb variable, the variable values 1 when the actual controller is state-owned enterprises, otherwise the variable values 0

DUAL

Dual

Dumb variable, the variable values 1 when a person is both the chairman of the board and the general manager at the end of year t, otherwise values 0

BOARD

Board Scale

Board scale of the enterprise at the end of year t

IND

Industry

Dumb variable, set up to refer to 2001 SFC industry classification.

YEAR

Year

The year that the data was collected