Table 4 The effects of external collaboration on R&D efforts.
Dependent variable: R&D Efforts | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
RI | RHC | |||||||||
M6 | M7 | M8 | M9 | M10 | M11 | M12 | M13 | M14 | M15 | |
Constant | 0.023 | −0.101 | −0.502** | −0.269 | −0.700*** | −0.311* | −0.437** | −0.906*** | −0.530** | −1.027*** |
Control Variables | ||||||||||
Ownership | −0.356* | −0.374** | −0.265 | −0.301* | −0.238 | −0.064 | −0.083 | 0.038 | −0.023 | 0.054 |
Age | −0.032 | −0.034 | −0.077 | −0.029 | −0.071 | 0.023 | 0.020 | −0.029 | 0.025 | −0.025 |
Size (Ln) | −0.450*** | −0.479*** | −0.326*** | −0.448*** | −0.344*** | −0.416*** | −0.445*** | −0.276*** | −0.414*** | −0.288*** |
Industry | 0.348* | 0.348* | 0.280 | 0.480** | 0.385** | 0.633*** | 0.634*** | 0.556*** | 0.732*** | 0.619*** |
Independent Variables | ||||||||||
VC | 0.283* | 0.075 | 0.285* | 0.051 | ||||||
HC | 0.306*** | 0.276*** | 0.347*** | 0.327*** | ||||||
CC | 0.486** | 0.361** | 0.363* | 0.218 | ||||||
Goodness-of-fit | ||||||||||
R2 | 0.293 | 0.317 | 0.445 | 0.344 | 0.475 | 0.306 | 0.331 | 0.502 | 0.335 | 0.513 |
Adj R2 | 0.261 | 0.278 | 0.413 | 0.307 | 0.432 | 0.275 | 0.293 | 0.473 | 0.298 | 0.473 |
F | 9.200*** | 8.165*** | 14.104*** | 9.247*** | 11.105*** | 9.832*** | 8.718*** | 17.717*** | 8.882*** | 12.926*** |
Maximum VIF | 1.228 | 1.228 | 1.241 | 1.273 | 1.293 | 1.228 | 1.228 | 1.241 | 1.273 | 1.293 |
Durbin-Wastson | 1.814 | 1.816 | 1.946 | 1.750 | 1.920 | 1.738 | 1.723 | 1.721 | 1.679 | 1.698 |
