Table 5: Internal control quality and R&D intensity (OLS) RDIINC variable Coef. t P>t _cons 0.0452047 0.96 0.337 0.0000348* 1.70 0.089 INCONTROL 0.0018051 0.79 0.428 UNIFY 0.0071512*** 6.23 0.000 EDU 0.0030871** 2.10 0.036 COMPENSA -0.0001357 -0.82 0.410 CEOAGE -0.0058261 -1.47 0.141 CEOGEND 0.0082872** 2.47 0.014 MARKETTYPE 0.0000334 0.05 0.963 LISTAGE 0.0296503 1.39 0.164 INDEPENCEI 0.0058245** 2.05 0.040 STATEDU -0.0376895*** -3.75 0.000 OWNOER 0.0372932 1.19 0.233 ROA -0.0048796*** -2.76 0.006 ASSET -0.0465144*** -5.75 0.000 LEV -0.0217047*** -7.34 0.000 TURNOVER -0.0142147 -0.90 0.368 CASHI 0.0172085* 1.85 0.064 ENVIRN Control Control YEAR F value (Prob > F) 23.20(0.0000) Adj R-squared 0.2860 Obs 1276 ***, **, represent 1%、5%, and 10% significance levels
Table 5: Internal control quality and R&D intensity (OLS) variable RDIINC Coef. t P>t _cons 0.0452047 0.96 0.337 INCONTROL 0.0000348* 1.70 0.089 UNIFY 0.0018051 0.79 0.428 EDU 0.0071512*** 6.23 0.000 COMPENSA 0.0030871** 2.10 0.036 CEOAGE -0.0001357 -0.82 0.410 CEOGEND -0.0058261 -1.47 0.141 MARKETTYPE 0.0082872** 2.47 0.014 LISTAGE 0.0000334 0.05 0.963 INDEPENCEI 0.0296503 1.39 0.164 STATEDU 0.0058245** 2.05 0.040 OWNOER -0.0376895*** -3.75 0.000 ROA 0.0372932 1.19 0.233 ASSET -0.0048796*** -2.76 0.006 LEV -0.0465144*** -5.75 0.000 TURNOVER -0.0217047*** -7.34 0.000 CASHI -0.0142147 -0.90 0.368 ENVIRN 0.0172085* 1.85 0.064 Control YEAR Control F value (Prob > F) 23.20(0.0000) Adj R-squared 0.2860 Obs 1276 ***, **, represent 1%、5%, and 10% significance levels
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