Skip to main content

Table 4 Average marginal effects of innovation output on financial performance under different levels of financial constraints

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

Group n IFC MFC AME Std Err z p > z 95% Conf. Interval
1 85,882 Low 0.333 0.004 82.440 0.000 0.325 0.341
2 57,093 High 0.186 0.004 47.920 0.000 0.179 0.194
3 72,698 Low 0.307 0.005 66.850 0.000 0.298 0.316
4 70,277 High 0.258 0.004 66.900 0.000 0.250 0.265
5 47,677 Low Low 0.348 0.006 58.280 0.000 0.336 0.360
6 38,205 Low High 0.302 0.006 54.440 0.000 0.291 0.313
7 25,021 High Low 0.193 0.006 32.800 0.000 0.181 0.204
8 32,072 High High 0.167 0.005 32.550 0.000 0.157 0.177
  1. AME = Average Marginal Effect; IFC = Individual financial constraints; MFC = Market-based Financial Constraints