| R & D |
Variable name | (1) |
Fin | −0.0017*** |
| (−4.0839) |
Size | −0.0008*** |
| (−5.1217) |
Lev | −0.0023** |
| (−2.5043) |
Roa | 0.0414*** |
| (11.9978) |
Share | −0.0034*** |
| (−3.6428) |
Cflow | 0.0186*** |
| (7.5032) |
Age | −0.0019*** |
| (−5.2413) |
constant | 0.0321*** |
| (8.5660) |
Industry | control |
Year | control |
N | 11920 |
adj. R-sq | 0.324 |