| (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 |