Test I for the mechanism of impact
| Explained variable | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
| lninno | g_tec | lninno | talent | lninno | inv | lninno | |
| test | 0.357*** (0.033) | 0.008*** (0.001) | 0.238*** (0.032) | 0.043*** (0.003) | 0.239*** (0.034) | 0.129*** (0.006) | 0.171*** (0.034) |
| g_tec | 15.34*** (0.826) | ||||||
| talent | 3.309*** (0.203) | ||||||
| inv | 1.448*** (0.090) | ||||||
| constant | 1.181*** (0.297) | 0.044*** (0.006) | 0.503*** (0.285) | 0.341*** (0.023) | −1.730*** (0.282) | 0.445*** (0.054) | 0.506*** (0.290) |
| Sobel test | — | 0.119 (z = 10.14, p = 0.000) (Z = 10.14, p = 0.000) | 0.143 (z = 11.37,p = 0.000) (Z = 11.37, p = 0.000) | 0.187 (z = 12.91,p = 0.000) (Z = 12.91, p = 0.000) | |||
| Bootstrapping (indirect effect) | — | 0.119 (z = 3.55, p = 0.000) (Z = 3.55, p = 0.000) | 0.143 (z = 5.00,p = 0.000) (Z = 5.00, p = 0.000) | 0.187 (z = 9.71,p = 0.000) (Z = 9.71, p = 0.000) | |||
| Bootstrapping (direct effect) | — | 0.238 (z = 5.78, p = 0.000) (Z = 5.78, p = 0.000) | 0.239 (z = 7.52,p = 0.000) (Z = 7.52, p = 0.000) | 0.171 (z = 5.22,p = 0.000) (Z = 5.22, p = 0.000) | |||
| Percentage of indirect effect | — | 33.27% | 37.53% | 52.24% | |||
| N | 3,763 | 3,763 | 3,763 | 3,722 | 3,722 | 3,759 | 3,759 |
| R2 | 0.968 | 0.674 | 0.971 | 0.921 | 0.968 | 0.847 | 0.970 |
| Explained variable | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
| 0.357*** (0.033) | 0.008*** (0.001) | 0.238*** (0.032) | 0.043*** (0.003) | 0.239*** (0.034) | 0.129*** (0.006) | 0.171*** (0.034) | |
| 15.34*** (0.826) | |||||||
| 3.309*** (0.203) | |||||||
| 1.448*** (0.090) | |||||||
| 1.181*** (0.297) | 0.044*** (0.006) | 0.503*** (0.285) | 0.341*** (0.023) | −1.730*** (0.282) | 0.445*** (0.054) | 0.506*** (0.290) | |
| Sobel test | — | 0.119 | 0.143 | 0.187 | |||
| Bootstrapping (indirect effect) | — | 0.119 | 0.143 | 0.187 | |||
| Bootstrapping (direct effect) | — | 0.238 | 0.239 | 0.171 | |||
| Percentage of indirect effect | — | 33.27% | 37.53% | 52.24% | |||
| 3,763 | 3,763 | 3,763 | 3,722 | 3,722 | 3,759 | 3,759 | |
| 0.968 | 0.674 | 0.971 | 0.921 | 0.968 | 0.847 | 0.970 | |
Note(s): *, ** and *** indicate that the regression coefficient is significant at the levels of 10%, 5% and 1%, respectively
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