Table 8 State ownership, digital transformation, and innovation performances of PSEs.
Variables | Group of PSEs with state ownership | Group of PSEs without state ownership | Difference test | ||
|---|---|---|---|---|---|
Patent | DT | Patent | DT | Chow Test | |
(1) | (2) | (3) | (4) | (5) | |
DT | 0.451*** (0.000) | 0.036*** (0.008) | 0.058*** (0.004) | ||
Size | 0.084 (0.236) | 0.263* (0.072) | |||
Time | 0.293 (0.316) | 0.174 (0.257) | |||
Patent | 0.374*** (0.002) | 0.069*** (0.007) | |||
ROA | 0.138* (0.096) | 0.282 (0.158) | |||
Lev | 0.215 (0.162) | 0.307 (0.284) | |||
Cash | 0.357 (0.149) | 0.061* (0.078) | |||
SCD | 0.187* (0.061) | 0.234** (0.018) | |||
Top1 | 0.362* (0.095) | 0.218* (0.076) | |||
Const | 0.248 (0.159) | 0.151* (0.078) | 0.236* (0.097) | 0.083 (0.246) | |
IND & YR | Yes | Yes | Yes | Yes | |
Adj. R2 | 0.204 | 0.236 | 0.208 | 0.241 | |
F Value | 23.156*** | 25.208*** | 22.437*** | 26.895*** | |
Obs. | 1838 | 1838 | 1974 | 1974 | |
