lnpatent

(1)

(2)

(3)

(4)

(5)

(6)

Rental rate = 20%

Production function: LP

Production function: OP

distortion

−0.005***

−0.005***

−0.004***

−0.003***

−0.004***

−0.003***

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

Firm controls

Y

Y

Y

Firm + Year FE

Y

Y

Y

Y

Y

Y

N

1,485,347

1,480,960

1,493,033

1,488,592

1,484,827

1,480,410

R²

0.511

0.513

0.511

0.512

0.511

0.512