RDIINC variable Coef. t P>t _cons 0.0401939 0.85 0.395 0.0000693** 2.11 0.035 INCONTROL 0.0017548 0.77 0.441 UNIFY 0.0072378*** 6.29 0.000 EDU 0.0030522** 2.07 0.038 COMPENSA -0.0001304 -0.79 0.429 CEOAGE -0.0060054 -1.51 0.130 CEOGEND 0.0083890** 2.50 0.013 MARKETTYPE -0.0000242 -0.03 0.974 LISTAGE 0.0278513 1.30 0.193 INDEPENCEI 0.0059721** 2.10 0.036 STATEDU -0.0377311*** -3.75 0.000 OWNOER 0.0168257 0.48 0.629 ROA -0.0055756*** -3.02 0.003 ASSET -0.0460134*** -5.67 0.000 LEV -0.0216535*** -7.31 0.000 TURNOVER -0.0121537 -0.77 0.444 CASHI 0.0171653* 1.84 0.065 ENVIRN INDUS Control Control YEAR F value (Prob > F) 23.22(0.0000) Adj R-squared 0.2843 Obs 1276 ***, **, * represent 1%、5%, and 10% significance levels 11 Results of Difference in Difference test (OLS) variable RDIINC RDIINC
variable RDIINC Coef. t P>t _cons 0.0401939 0.85 0.395 INCONTROL 0.0000693** 2.11 0.035 UNIFY 0.0017548 0.77 0.441 EDU 0.0072378*** 6.29 0.000 COMPENSA 0.0030522** 2.07 0.038 CEOAGE -0.0001304 -0.79 0.429 CEOGEND -0.0060054 -1.51 0.130 MARKETTYPE 0.0083890** 2.50 0.013 LISTAGE -0.0000242 -0.03 0.974 INDEPENCEI 0.0278513 1.30 0.193 STATEDU 0.0059721** 2.10 0.036 OWNOER -0.0377311*** -3.75 0.000 ROA 0.0168257 0.48 0.629 ASSET -0.0055756*** -3.02 0.003 LEV -0.0460134*** -5.67 0.000 TURNOVER -0.0216535*** -7.31 0.000 CASHI -0.0121537 -0.77 0.444 ENVIRN 0.0171653* 1.84 0.065 INDUS Control YEAR Control F value (Prob > F) 23.22(0.0000) Adj R-squared 0.2843 Obs 1276 ***, **, * represent 1%、5%, and 10% significance levels 11 Results of Difference in Difference test (OLS) variable RDIINC RDIINC
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