Table 4

Regression results of the moderating role of R&D on the association between DT and FP

VariableModel 1Model 2
GLS1GLS2
DT*R&D 0.896*** (3.36)
DT0.0181*** (3.72)0.0180*** (3.51)
R&D0.0613*** (5.05)0.0449*** (3.67)
Size−0.0191*** (−6.33)−0.0121*** (−4.77)
Grow0.0186*** (4.16)0.0183** (2.51)
Labour0.0389*** (8.95)0.0314*** (8.90)
Asset−0.0376** (−2.49)−0.0474*** (−3.88)
Lev−0.0083*** (−4.89)−0.0099*** (−9.39)
Age0.0033 (0.70)0.0058 (1.60)
Gender−0.0001 (−0.01)−0.00151 (−0.28)
Constant0.201*** (3.98)0.097** (2.33)
Number of observation365365
Source(s): Authors’ own work

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