|
| (1) | (2) |
| Innov_L1 | Innov_L2 | |
| Officer | 1.557*** | 1.401*** |
| (0.361) | (0.406) | |
| Pro | −0.355*** | 0.111 |
| (0.091) | (0.092) | |
| Size | −0.217** | −0.320*** |
| (0.094) | (0.109) | |
| Debt | −1.125*** | −0.578 |
| (0.356) | (0.410) | |
| Top1 | 0.012** | 0.003 |
| (0.006) | (0.007) | |
| Cf | −1.188*** | −0.946** |
| (0.372) | (0.423) | |
| GDP | 0.031*** | 0.031*** |
| (0.004) | (0.005) | |
| Cons | 7.228*** | 9.594*** |
| (1.950) | (2.263) | |
| 固定效应 | YES | YES |
| N | 5675 | 4715 |
| R2 | 0.050 | 0.039 |