(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

Patent

1.000

Invent

0.809^***

1.000

Cite

0.372^***

0.505^***

1.000

Differ

0.020^*

0.049^***

0.076^***

1.000

PC

−0.046^***

−0.053^***

−0.114^***

−0.063^***

1.000

SOE

0.090^***

0.101^***

0.146^***

0.017

−0.154^***

1.000

Board size

0.042^***

0.066^***

0.031^***

−0.020^*

0.027^**

0.271^***

1.000

Idpt

0.025^**

0.024^**

0.019^*

0.057^***

−0.002

−0.034^***

−0.455^***

1.000

Size

0.258^***

0.246^***

0.353^***

0.077^***

−0.046^***

0.371^***

0.265^***

0.027^**

1.000

Lev

0.110^***

0.069^***

0.142^***

0.049^***

−0.050^***

0.371^***

0.187^***

−0.011

0.527^***

ROA

0.058^***

0.083^***

−0.048^***

−0.099^***

0.065^***

−0.184^***

0.004

−0.023^**

−0.055^***

ROE

0.092^***

0.099^***

−0.012

−0.100^***

0.060^***

−0.106^***

0.044^***

−0.016

0.077^***

Growth

0.003

0.017

−0.016

0.003

0.035^***

−0.110^***

−0.037^***

0.012

0.041^***

Dual

−0.019^*

−0.012

−0.062^***

−0.004

0.005

−0.263^***

−0.187^***

0.109^***

−0.185^***

FirmAge

0.003

0.005

0.243^***

0.051^***

−0.089^***

0.166^***

0.043^***

−0.013

0.189^***