变量 | 模型(1) Innovation | 模型(2) RD | 模型(3) Innovation | |||
DF-city | 0.426*** (9.542) | 0.392*** (8.296) | 0.404*** (12.678) | 0.411*** (12.429) |
|
|
RD |
|
|
|
| 0.516*** (26.255) | 0.478*** (22.985) |
Size | 0.451*** (22.536) | 0.520*** (24.864) | 0.754*** (52.627) | 0.777*** (53.140) | 0.074*** (3.086) | 0.160*** (6.217) |
Age | −0.014*** (−4.270) | −0.013*** (−3.836) | −0.007*** (−2.950) | −0.007*** (−2.701) | −0.005* (−1.789) | −0.005 (−1.559) |
Lev | 0.270** (2.427) | 0.072 (0.629) | −0.454*** (−5.705) | −0.431*** (−5.407) | 0.434*** (4.170) | 0.221** (2.049) |
Top1 | 0.001 (0.721) | 0.002 (1.478) | −0.001 (−0.599) | −0.001 (−1.407) | 0.001 (0.579) | 0.002 (1.565) |
Gov | 0.153*** (12.083) | 0.128*** (10.067) | 0.124*** (13.628) | 0.106*** (11.886) | 0.089*** (7.367) | 0.076*** (6.240) |
常数项 | −11.075*** (−28.444) | −12.075*** (−28.940) | −2.353*** (−8.450) | −2.552*** (−8.740) | −9.011*** (−27.584) | −10.089*** (−28.386) |
固定效应 | 不控制 | 控制 | 不控制 | 控制 | 不控制 | 控制 |
样本量 | 4292 | 4292 | 4292 | 4292 | 4292 | 4292 |
R2 | 0.336 | 0.422 | 0.636 | 0.697 | 0.415 | 0.479 |