研究文章
知识异质性的影响机制的风险资本联合创新创业公司的性能:来自中国的证据
|
| 主要 |
(1) |
(2) |
(3) |
(4) |
(5) |
| RDI |
RDI |
RDI |
H-KHS |
Patapply |
|
| 学校 |
0.108 |
|
0.123 |
|
0.200 |
| (0.000) |
|
(0.000) |
|
(0.030) |
|
| VAIC |
|
0.000 |
0.000 |
|
|
|
(1.06e−08) |
(1.06e−08) |
|
|
|
| IMR |
|
|
|
|
−0.101 |
|
|
|
|
(0.017) |
|
| 债务 |
|
|
|
−0.362 |
|
|
|
|
(0.581) |
|
|
| Lfirmage |
|
|
|
−0.124 |
|
|
|
|
(0.382) |
|
|
| Lnasset |
−0.004 |
0.020 |
−0.014 |
0.245 |
0.467 |
| (0.000) |
(0.000) |
(0.000) |
(0.300) |
(0.034) |
|
| Roa |
−1.034 |
−1.176 |
−1.041 |
−1.527 |
−0.749 |
| (0.000) |
(0.000) |
(0.000) |
(2.502) |
(0.268) |
|
| Tobinsq |
0.091 |
0.097 |
0.087 |
|
0.043 |
| (0.000) |
(0.000) |
(0.000) |
|
(0.015) |
|
| Indepnum |
−2.247 |
−2.222 |
−2.304 |
|
−1.866 |
| (0.000) |
(0.000) |
(0.000) |
|
(0.178) |
|
| Synnum |
0.011 |
−0.012 |
−0.003 |
|
0.049 |
| (0.000) |
(0.000) |
(0.000) |
|
(0.010) |
|
| 奖助金 |
−0.002 |
−0.002 |
−0.002 |
0.000 |
0.000 |
| (0.000) |
(0.000) |
(0.000) |
(0.002) |
(0.000) |
|
| 阶段 |
0.301 |
0.288 |
0.291 |
|
0.0563 |
| (0.000) |
(0.000) |
(0.000) |
|
(0.012) |
|
| Ownnum |
−0.001 |
−0.001 |
−0.001 |
|
0.004 |
| (0.000) |
(0.000) |
(0.000) |
|
(0.000) |
|
| Mancost |
0.007 |
0.007 |
0.007 |
|
0.005 |
| (0.000) |
(0.000) |
(0.000) |
|
(0.000) |
|
| _Cons |
17.011 |
16.942 |
17.206 |
−1.624 |
−0.940 |
| (0.000) |
(0.000) |
(0.000) |
(2.751) |
(0.404) |
|
| N |
396年 |
396年 |
396年 |
392年 |
391年 |
| R2 |
0.396 |
0.398 |
0.400 |
0.035 |
0.223 |
|
|
|
|