New product output

R & D

Variable

Is there a new product

New product density

Is there R & D investment

R & D density

HMT_F_{i, t-1}

−0.845***

−0.510***

−0.615***

−0.0272***

(0.1300)

(0.0089)

(0.1270)

(0.0048)

HMT_S_{i, t-1}

−0.605**

−0.383***

−0.431

−0.0225**

(0.2950)

(0.0182)

(0.3030)

(0.0110)

FS_{i, t−1}

0.737**

0.441***

−0.0190

0.00810

(0.2870)

(0.0195)

(0.3020)

(0.0111)

Obs

65,315

65,449

54,202

54,201

R²

0.134

0.131

0.232

*1.708