变量 | 模型(6) TP | 模型(7) L.RD | 模型(8) FC | 模型(9) L.RD | 模型(10) |
Innovation | |||||
L.RD |
|
|
|
| 0.346*** (10.099) |
L.DF-city | 0.317*** (5.354) | 0.319*** (6.178) | 0.065*** (3.124) | 0.338*** (6.847) | 0.197*** (2.757) |
L.TP |
| 0.070*** (3.255) |
|
| 0.061** (2.031) |
L.FC |
|
|
| 0.605*** (12.560) | 0.197*** (2.721) |
Size | 1.088*** (42.782) | 0.718*** (22.530) | 0.890*** (100.389) | 0.257*** (5.391) | 0.045 (0.629) |
Age | −0.002 (−0.470) | −0.001 (−0.178) | −0.002 (−1.371) | −0.002 (−0.492) | −0.013*** (−2.738) |
Lev | −1.838*** (−12.741) | −0.186 (−1.403) | −0.012 (−0.241) | −0.216* (−1.789) | 0.252 (1.394) |
Top1 | 0.004** (2.537) | −0.001 (−0.623) | 0.001* (1.923) | −0.002 (−1.600) | 0.001 (0.342) |
Gov | −0.012 (−0.813) | 0.071*** (5.569) | 0.006 (1.216) | 0.068*** (5.588) | 0.042** (2.429) |
常数项 | −5.982*** (−11.793) | −1.851*** (−4.076) | 1.546*** (8.745) | −3.323*** (−7.700) | −10.661*** (−16.479) |
固定效应 | 控制 | 控制 | 控制 | 控制 | 控制 |
样本量 | 1878 | 1878 | 1878 | 1878 | 1878 |
R2 | 0.718 | 0.729 | 0.946 | 0.750 | 0.518 |