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Table 2 Descriptive statistics and correlations among main variables

From: Could more innovation output bring better financial performance? The role of financial constraints

  Variables M SD 1 2 3 4 5 6 7 8
1 Finan 0.6937 1.471 1        
2 Innov 9.277 2.127 0.512**** 1       
3 IFC − 3.361 0.604 0.387*** 0.360*** 1      
4 MFC 8.687 2.637 0.081*** 0.115*** 0.203*** 1     
5 Share 0.002 0.012 0.210*** 0.160*** 0.130 *** − 0.050*** 1    
6 CI 0.333 0.195 − 0.053*** − 0.080*** − 0.025*** − 0.116*** 0.040** 1   
7 AC 0.106 1.179 − 0.023*** − 0.030*** − 0.031*** − 0.033*** − 0.006*** 0.001 1  
8 Subsidy 1.200 2.568 0.162*** 0.217*** 0.098*** − 0.044 0.092*** − 0.025*** 0.001 1
9 Export 0.528 0.499 0.136*** 0.114*** 0.096*** 0.124*** 0.050*** 0.001 − 0.017*** 0.099***
  1. n = 142,975. Finan = Financial performance; Innov = Innovation output; IFC = Individual financial constraints; MFC = Market-based financial constraints; Share = Market Share; CI = Capital Intensity; AC = Agency Costs; Subsidy = Subsidy Income; Export for 1 “Yes” and 0 for “No”; *p < 0.1, ** p < 0.05, *** p < 0.01