|
INNOV1 | ||
|
| 国有企业 | 非国有企业 |
| CN | −0.0125 | 0.1164*** |
|
| (0.0366) | (0.0182) |
| Size | 0.8616*** | 0.7599*** |
|
| (0.0313) | (0.0146) |
| ROA | 0.8658*** | 0.2735** |
|
| (0.2676) | (0.1071) |
| LEV | −0.4620*** | −0.0971* |
|
| (0.1295) | (0.0590) |
| Age | 0.0165 | 0.0545 |
|
| (0.0280) | (0.0341) |
| Dual | 0.0481 | −0.0050 |
|
| (0.0361) | (0.0162) |
| 个体效应 | 控制 | 控制 |
| 时间效应 | 控制 | 控制 |
| _cons | −1.4574* | 0.3746 |
|
| (0.8230) | (0.5525) |
| N | 3594 | 7611 |
| adj.R2 | 0.4240 | 0.5605 |