Variables

Model 1

Model 2

Model 3

lnIFDI

−0.0160*** (−5.96)

lnIFDI × lnTECH

0.0066*** (11.48)

lnOFDI

−0.0131*** (−7.55)

lnOFDI × lnTECH

0.0077*** (12.89)

lnIDL

−0.0280*** (−8.12)

lnIDL × lnTECH

0.0145*** (12.99)

lnDSC

0.2344*** (9.19)

0.2373*** (9.23)

0.2366*** (9.38)

lnEXS

−0.0156*** (−8.02)

−0.0130*** (−4.35 )

−0.0128*** (−4.25)

lnK/L

0.0109*** (4.01)

0.0138*** (5.47)

0.0138*** (5.56)

lnSIZE

0.0020 (0.89)

0.0016 (0.97)

0.0022 (1.42)

_Cons

0.0720** (2.50)

0.0061 (0.31)

0.0190 (0.91)

Industry fixed effect

YES

YES

YES

Time fixed effect

YES

YES

YES

Hausman Test

Prob > chi2 = 0.0057

Prob > chi2 = 0.0002

Prob > chi2 = 0.0001

Wald Test

Prob > chi2 = 0.0000

Prob > chi2 = 0.0000

Prob > chi2 = 0.0000

Wooldridge Test

Prob > F = 0.0043

Prob > F = 0.0040

Prob > F = 0.0039

FE or RE

FE

FE

FE