Table 1 Definition of variables Variable...

Table 1

Definition of variables

Variable name	Variable definition	Mean	Std. Dev
Innovation Performance
Product innovation (new to firm)	1 = During the last three years, this establishment introduced new or improved product or services 0 = otherwise	0.24	0.427
Product innovation (new to market)	1 = if the firm introduced a new or significantly improved goods that were new to the establishments main market in the previous three years, 0 = otherwise	0.165	0.371
Process innovation	1 = During the last three years, this establishment introduced any new or improved process, 0 = otherwise	0.135	0.342
Internal R&D expenditure	1 = Over the last three years, this establishment spend on research and development activities within the establishment, 0 = otherwise	0.175	0.38
External R&D	1 = Over the last three years, this establishment spend on research and development activities contracted with other companies, 0 = otherwise	0.082	0.275
External knowledge acquisition	1 = Over the last three years, this establishment spend on the acquisition of external knowledge (This includes the purchase or licensing of patents and non-patented inventions, know-how, and other types of knowledge from other businesses or organizations); 0 = otherwise	0.111	0.314
Family firms
Family ownership	1 = at least 50% of the company is owned by the same family (or the family with the largest ownership if there is more than one family), 0 = otherwise	0.458	0.498
Family management	The percent of the key management positions of this firm are occupied by members of the same family	36.67	45.158
Control variables
Local market	1 = main product sold mostly in same municipality where establishment is located, 0 = otherwise	0.445	0.497
National market	1 = main product sold mostly across the country where establishment is located, 0 = otherwise	0.442	0.497
International market	1 = main products are sold overseas, 0 = otherwise	0.114	0.317
Level of competition	Log of number of competitors of the establishment's main product faced in their main market	3.3	1.572
Location in capital or city with pop >1 m	1 = if the firm is located in a city with a of pop >1 million, 0 = otherwise	0.267	0.443
Location in city with pop. 250 k–1 m	1 = if the firm is located in a city with a pop of 250 k–1 m, 0 = otherwise	0.214	0.41
Location in city with pop. 50–250 k	1 = if the firm is located in a city with a pop of 50–250 k, 0 = otherwise	0.212	0.409
Location in city with Pop <50 k	1 = if the firm is located in a city with pop under 50 k, 0 = otherwise	0.28	0.449
Firm size	Logarithm of full-time employees	3.254	1.336
Firm age	2020- Year of establishment, in logarithm	2.802	0.698
Internationalization	The ratio of the firm's sales in foreign markets to total sales	9.508	23.801
Foreign involvement(foreign)	Percentage owned by foreign individuals, companies, or organizations	5.642	21.379

Variable name	Variable definition	Mean	Std. Dev
Innovation Performance
Product innovation (new to firm)	1 = During the last three years, this establishment introduced new or improved product or services 0 = otherwise	0.24	0.427
Product innovation (new to market)	1 = if the firm introduced a new or significantly improved goods that were new to the establishments main market in the previous three years, 0 = otherwise	0.165	0.371
Process innovation	1 = During the last three years, this establishment introduced any new or improved process, 0 = otherwise	0.135	0.342
Internal R&D expenditure	1 = Over the last three years, this establishment spend on research and development activities within the establishment, 0 = otherwise	0.175	0.38
External R&D	1 = Over the last three years, this establishment spend on research and development activities contracted with other companies, 0 = otherwise	0.082	0.275
External knowledge acquisition	1 = Over the last three years, this establishment spend on the acquisition of external knowledge (This includes the purchase or licensing of patents and non-patented inventions, know-how, and other types of knowledge from other businesses or organizations); 0 = otherwise	0.111	0.314
Family firms
Family ownership	1 = at least 50% of the company is owned by the same family (or the family with the largest ownership if there is more than one family), 0 = otherwise	0.458	0.498
Family management	The percent of the key management positions of this firm are occupied by members of the same family	36.67	45.158
Control variables
Local market	1 = main product sold mostly in same municipality where establishment is located, 0 = otherwise	0.445	0.497
National market	1 = main product sold mostly across the country where establishment is located, 0 = otherwise	0.442	0.497
International market	1 = main products are sold overseas, 0 = otherwise	0.114	0.317
Level of competition	Log of number of competitors of the establishment's main product faced in their main market	3.3	1.572
Location in capital or city with pop >1 m	1 = if the firm is located in a city with a of pop >1 million, 0 = otherwise	0.267	0.443
Location in city with pop. 250 k–1 m	1 = if the firm is located in a city with a pop of 250 k–1 m, 0 = otherwise	0.214	0.41
Location in city with pop. 50–250 k	1 = if the firm is located in a city with a pop of 50–250 k, 0 = otherwise	0.212	0.409
Location in city with Pop <50 k	1 = if the firm is located in a city with pop under 50 k, 0 = otherwise	0.28	0.449
Firm size	Logarithm of full-time employees	3.254	1.336
Firm age	2020- Year of establishment, in logarithm	2.802	0.698
Internationalization	The ratio of the firm's sales in foreign markets to total sales	9.508	23.801
Foreign involvement(foreign)	Percentage owned by foreign individuals, companies, or organizations	5.642	21.379

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