Table 2 Difference-in-differences estimation.
Research institutes and universities | Research institutes | Universities | ||||
|---|---|---|---|---|---|---|
(1) | (2) | (3) | (4) | (5) | (6) | |
Variables | Paper | ESI paper | Paper | ESI paper | Paper | ESI paper |
Treatment × Post | 0.132*** (0.042) | 0.265*** (0.077) | 0.125** (0.054) | 0.301*** (0.076) | 0.183*** (0.069) | 0.321** (0.132) |
Size | 0.310*** (0.026) | 0.324*** (0.046) | 0.112 (0.098) | 0.035 (0.140) | 0.178*** (0.036) | 0.134** (0.068) |
R&D expenditure | 0.101*** (0.036) | 0.099 (0.065) | 0.012 (0.033) | −0.005 (0.047) | 0.390*** (0.115) | 0.363* (0.219) |
Age | −3.079 (3.517) | 1.076 (6.348) | 4.758*** (0.949) | 1.497 (1.356) | 2.534 (3.039) | 5.703 (5.782) |
Laba | 0.091 (0.058) | 0.248** (0.104) | −0.065 (0.067) | 0.022 (0.127) | ||
Constant | −0.431 (0.293) | −0.138 (0.529) | 0.264** (0.114) | −0.072 (0.163) | −0.057 (0.308) | 0.222 (0.586) |
Observations | 582 | 582 | 348 | 348 | 234 | 234 |
R-squared | 0.540 | 0.327 | 0.534 | 0.216 | 0.752 | 0.483 |
Individual FE | YES | YES | YES | YES | YES | YES |
Year FE | YES | YES | YES | YES | YES | YES |
