Table 5 Regression results of the overall sample
From: Near is more: learning efficiency in research and development innovation among interlocking firms
|  | Y = RD1t+1 | |
|---|---|---|
X = CoRD1t | X = KmRD1t | |
(1) | (2) | |
Intercept | 0.0209*** | 0.0225*** |
(8.16) | (8.64) | |
Xt | 0.1837*** | 0.0005*** |
(11.28) | (6.21) | |
RD_indt | 0.8016*** | 0.8248*** |
(35.28) | (35.97) | |
Sizet | − 0.0009*** | − 0.0009*** |
(− 7.52) | (− 7.36) | |
ROAt | 0.0281*** | 0.0286*** |
(9.67) | (9.79) | |
LEVt | − 0.0034*** | − 0.0042*** |
(− 4.78) | (− 5.78) | |
SOEt | − 0.0007** | − 0.0009*** |
(− 3.13) | (− 3.81) | |
BMt | 0.0006 | 0.0005 |
(1.71) | (1.49) | |
Divt | 0.0032 | 0.0025 |
(1.34) | (1.08) | |
ADt | 0.0179** | 0.0162* |
(2.81) | (2.54) | |
HHIt | 0.0005 | 0.0001 |
(0.27) | (0.07) | |
Sales_gt | − 0.0002 | − 0.0002 |
(− 1.56) | (− 1.47) | |
Casht | − 0.0024876** | − 0.0026*** |
(− 3.19) | (− 3.43) | |
Firm & Year FE | YES | YES |
Adj R2 | 28.12% | 27.00% |
Obs | 8922 | 8922 |