Table 10 Regression results of...

Table 10

Regression results of additional research

	Tfp
	(1)	(2)	(3)	(4)	(5)	(6)
Variable	AC = 1	AC = 0	High_tech = 1	High_tech = 0	IP = 1	IP = 0
Interact	0.040*** (3.63)	0.015 (1.42)	0.003 (0.29)	0.040*** (3.62)	0.008 (0.63)	0.050*** (4.50)
Constant	−0.942** (−2.09)	1.426*** (3.45)	−0.166 (−0.32)	−0.667* (−1.70)	−1.962*** (−3.54)	0.127 (0.30)
Controls	Yes	Yes	Yes	Yes	Yes	Yes
Year and Ind	Yes	Yes	Yes	Yes	Yes	Yes
N	8,325	8,340	7,420	9,245	5,798	8,745
Adj·R²	0.283	0.351	0.291	0.354	0.261	0.370
F-test	48.20***	69.52***	46.56***	80.95***	57.57***	88.53***

	Tfp
	(1)	(2)	(3)	(4)	(5)	(6)
Variable	AC = 1	AC = 0	High_tech = 1	High_tech = 0	IP = 1	IP = 0
Interact	0.040*** (3.63)	0.015 (1.42)	0.003 (0.29)	0.040*** (3.62)	0.008 (0.63)	0.050*** (4.50)
Constant	−0.942** (−2.09)	1.426*** (3.45)	−0.166 (−0.32)	−0.667* (−1.70)	−1.962*** (−3.54)	0.127 (0.30)
Controls	Yes	Yes	Yes	Yes	Yes	Yes
Year and Ind	Yes	Yes	Yes	Yes	Yes	Yes
N	8,325	8,340	7,420	9,245	5,798	8,745
Adj·R²	0.283	0.351	0.291	0.354	0.261	0.370
F-test	48.20***	69.52***	46.56***	80.95***	57.57***	88.53***

Note(s): This table reports the regression results of additional tests. See Table 1 for detailed descriptions of all variables. All specifications include year and industry fixed effects. Standard errors after robust adjustment are clustered at the firm-year level. The t-value is in parentheses. ***, ** and * indicate statistical significance at the 0.01, 0.05 and 0.10 levels, respectively (two-tailed tests)

[ViewLarge]

Sharing Unavailable