|
| (1) | (2) |
| Innovation | Innovation | |
| DF | 0.007*** | 0.005* |
| (2.62) | (1.69) | |
| Size |
| −0.000 |
|
| (−0.34) | |
| Lev |
| −0.009*** |
|
| (−4.68) | |
| Ownership |
| −0.009*** |
|
| (−2.73) | |
| Indep |
| −0.016*** |
|
| (−3.12) | |
| Dual |
| 0.000 |
|
| (0.42) | |
| Fixed |
| 0.009*** |
|
| (3.09) | |
| Audit |
| 0.005*** |
|
| (3.86) | |
| Roa |
| −0.019*** |
|
| (−18.58) | |
| Growth |
| −0.007*** |
|
| (−13.79) | |
| Is |
| −0.007 |
|
| (−0.62) | |
| Pgdp |
| 0.011* |
|
| (1.77) | |
| 常数项 | 0.025*** | −0.057 |
| (14.18) | (−0.84) | |
| 时间效应 | YES | YES |
| 个体效应 | YES | YES |
| Within_R2 | 0.052 | 0.109 |
| 样本量 | 14199 | 14199 |