Estimation results
| Dependent variable: InnovativeFirmDummy | ||||||
|---|---|---|---|---|---|---|
| Method | OLS | OLS | OLS | Binary logit | Binary logit | Binary logit |
| Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | |
| Demand | 7.05E–12*** (1.89.E–12) | 2.92E–11*** (3.38.E–12) | 1.70E–11*** (3.42.E–12) | 6.36E–11*** (1.84.E–11) | 2.44E–10*** (3.19.E–11) | 1.40E–10*** (3.47.E–11) |
| TechOpportunity1 | –0.001** (0.0005) | 0.003*** (0.0008) | 0.008*** (0.0008) | –0.008 (0.0073) | 0.054*** (0.0094) | 0.104*** (0.0107) |
| TechOpportunity2 | 0.005*** (0.0008) | 0.002* (0.0011) | –0.002*** (0.0012) | 0.075*** (0.0104) | 0.040*** (0.0144) | –0.008 (0.0156) |
| Appropriatability1 | 0.000 (0.0002) | 0.000 (0.0003) | –0.001*** (0.0003) | 0.003 (0.0029) | 0.002 (0.0042) | –0.013*** (0.0044) |
| Appropriatability2 | –0.015 (0.0132) | 0.031 (0.0204) | 0.008 (0.0207) | –0.180 (0.1848) | 0.407 (0.2583) | 0.086 (0.2698) |
| CostAdvantage | –0.210*** (0.0238) | –0.494*** (0.0465) | –0.476*** (0.0486) | –3.088*** (0.3290) | –6.614*** (0.6048) | –6.686*** (0.6523) |
| Agressiveness | 0.000*** (0.0000) | 0.000*** (0.0000) | 0.000*** (0.0000) | –0.006*** (0.0004) | –0.007*** (0.0005) | –0.006*** (0.0006) |
| Cetainty1 | –0.048*** (0.0043) | –0.044*** (0.0084) | –0.006 (0.0087) | –0.735*** (0.0616) | –0.690*** (0.1123) | –0.163 (0.1184) |
| Certainty2 | –0.024*** (0.0047) | –0.005 (0.0079) | 0.028 (0.0082) | –0.446*** (0.0768) | –0.117 (0.1042) | 0.296*** (0.0948) |
| Constant | 0.314*** (0.0226) | 0.643*** (0.0472) | 0.662*** (0.0495) | 0.960*** (0.3043) | 4.868*** (0.5974) | 5.369*** (0.6451) |
| OtherFactors | No | Yes | Yes | No | Yes | Yes |
| OtherDummies | No | No | Yes | No | No | Yes |
| Observations | 98,960 | 44,014 | 44,014 | 98,960 | 44,014 | 44,014 |
| R-squared | 0.005 | 0.014 | 0.031 | ¥0.010 | ¥0.023 | ¥0.056 |
| Adjusted R-squared | 0.005 | 0.014 | 0.030 | |||
| ¥: McFadden R2 | ||||||
| Dependent variable: InnovativeFirmDummy | ||||||
|---|---|---|---|---|---|---|
| Method | Binary logit | Binary logit | Binary logit | |||
| Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | Coefficient (std error) | |
| Demand | 7.05E–12 | 2.92E–11 | 1.70E–11 | 6.36E–11 | 2.44E–10 | 1.40E–10 |
| TechOpportunity1 | –0.001 | 0.003 | 0.008 | –0.008 (0.0073) | 0.054 | 0.104 |
| TechOpportunity2 | 0.005 | 0.002 | –0.002 | 0.075 | 0.040 | –0.008 (0.0156) |
| Appropriatability1 | 0.000 (0.0002) | 0.000 (0.0003) | –0.001 | 0.003 (0.0029) | 0.002 (0.0042) | –0.013 |
| Appropriatability2 | –0.015 (0.0132) | 0.031 (0.0204) | 0.008 (0.0207) | –0.180 (0.1848) | 0.407 (0.2583) | 0.086 (0.2698) |
| CostAdvantage | –0.210 | –0.494 | –0.476 | –3.088 | –6.614 | –6.686 |
| Agressiveness | 0.000 | 0.000 | 0.000 | –0.006 | –0.007 | –0.006 |
| Cetainty1 | –0.048 | –0.044 | –0.006 (0.0087) | –0.735 | –0.690 | –0.163 (0.1184) |
| Certainty2 | –0.024 | –0.005 (0.0079) | 0.028 (0.0082) | –0.446 | –0.117 (0.1042) | 0.296 |
| Constant | 0.314 | 0.643 | 0.662 | 0.960 | 4.868 | 5.369 |
| OtherFactors | No | Yes | Yes | No | Yes | Yes |
| OtherDummies | No | No | Yes | No | No | Yes |
| Observations | 98,960 | 44,014 | 44,014 | 98,960 | 44,014 | 44,014 |
| 0.005 | 0.014 | 0.031 | ¥0.010 | ¥0.023 | ¥0.056 | |
| Adjusted | 0.005 | 0.014 | 0.030 | |||
| ¥: McFadden | ||||||
The symbols ***, ** and * indicate significance at the 1, 5 and 10% levels, respectively