Table IV Heckman selection model...

Table IV

Heckman selection model estimates

	First stage (1): propensity for innovation	Second stage (2): innovation performance	Second stage (2): innovation turnover
Variables	Model 1	Model 2	Model 3
Propensity of product innovation
Openness	0.053*** (0.007)	0.053*** (0.007)	0.053*** (0.007)
Openness squared	−0.001*** (0.000)	−0.001*** (0.000)	−0.001*** (0.000)
Formal training	0.263 (0.217)	0.276 (0.223)	0.296 (0.217)
Firms age (log)	0.014 (0.080)	0.009 (0.080)	0.0136 (0.079)
Firm size (log)	−0.040 (0.055)	−0.038 (0.055)	−0.028 (0.056)
Education level of employees	0.194 (0.140)	0.212 (0.150)	0.238 (0.149)
Exports destination	0.418 (0.272)	0.425 (0.282)	0.432 (0.281)
R&D expenditure (log)	0.055*** (0.008)	0.056*** (0.008)	0.055*** (0.009)
Intellectual property rights	−0.203 (0.144)	−0.207 (0.151)	−0.198 (0.152)
Sector dummy	0.144 (0.130)	0.147 (0.130)	0.151 (0.127)
Group	−0.104 (0.165)	−0.170 (0.175)	−0.224 (0.163)
Constant	−2.053*** (0.406)	−2.068*** (0.421)	−2.132*** (0.418)
Innovation performance
Openness		0.680** (0.319)	0.201* (0.108)
Openness squared		−0.007* (0.004)	−0.002* (0.001)
Formal training		11.000** (5.001)	2.331** (1.048)
New product marketing		7.708* (4.532)	1.113 (0.868)
Marketing innovation		14.26* (7.682)	2.229 (1.566)
Firms age (log)		−2.275 (2.612)	−0.237 (0.514)
Firm size (log)		−0.404 (1.971)	0.702 (0.456)
Education level of employees		2.619 (4.514)	0.308 (0.950)
Exports destination		8.237 (10.183)	1.624 (2.252)
R&D expenditure (log)		0.490 (0.332)	0.125 (0.108)
Intellectual property rights		0.884 (4.290)	0.298 (1.078)
Origin of innovation		−9.411 (7.297)	−1.995 (1.373)
Sector dummy		7.977** (3.915)	1.010 (0.784)
Constant		5.563 (19.135)	−5.303 (6.019)
ρ		0.516* (0.270)	1.043* (0.619)
σ		3.217*** (0.082)	1.718*** (0.200)
Observations	631	631	631
Censored		441	441
Uncensored		190	190

	First stage (1): propensity for innovation	Second stage (2): innovation performance	Second stage (2): innovation turnover
Variables	Model 1	Model 2	Model 3
Propensity of product innovation
Openness	0.053*** (0.007)	0.053*** (0.007)	0.053*** (0.007)
Openness squared	−0.001*** (0.000)	−0.001*** (0.000)	−0.001*** (0.000)
Formal training	0.263 (0.217)	0.276 (0.223)	0.296 (0.217)
Firms age (log)	0.014 (0.080)	0.009 (0.080)	0.0136 (0.079)
Firm size (log)	−0.040 (0.055)	−0.038 (0.055)	−0.028 (0.056)
Education level of employees	0.194 (0.140)	0.212 (0.150)	0.238 (0.149)
Exports destination	0.418 (0.272)	0.425 (0.282)	0.432 (0.281)
R&D expenditure (log)	0.055*** (0.008)	0.056*** (0.008)	0.055*** (0.009)
Intellectual property rights	−0.203 (0.144)	−0.207 (0.151)	−0.198 (0.152)
Sector dummy	0.144 (0.130)	0.147 (0.130)	0.151 (0.127)
Group	−0.104 (0.165)	−0.170 (0.175)	−0.224 (0.163)
Constant	−2.053*** (0.406)	−2.068*** (0.421)	−2.132*** (0.418)
Innovation performance
Openness		0.680** (0.319)	0.201* (0.108)
Openness squared		−0.007* (0.004)	−0.002* (0.001)
Formal training		11.000** (5.001)	2.331** (1.048)
New product marketing		7.708* (4.532)	1.113 (0.868)
Marketing innovation		14.26* (7.682)	2.229 (1.566)
Firms age (log)		−2.275 (2.612)	−0.237 (0.514)
Firm size (log)		−0.404 (1.971)	0.702 (0.456)
Education level of employees		2.619 (4.514)	0.308 (0.950)
Exports destination		8.237 (10.183)	1.624 (2.252)
R&D expenditure (log)		0.490 (0.332)	0.125 (0.108)
Intellectual property rights		0.884 (4.290)	0.298 (1.078)
Origin of innovation		−9.411 (7.297)	−1.995 (1.373)
Sector dummy		7.977** (3.915)	1.010 (0.784)
Constant		5.563 (19.135)	−5.303 (6.019)
ρ		0.516* (0.270)	1.043* (0.619)
σ		3.217*** (0.082)	1.718*** (0.200)
Observations	631	631	631
Censored		441	441
Uncensored		190	190

Notes: Clustered standard errors in parentheses. *p<0.10; **p<0.05; ***p<0.01

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