Page 49 - IDEA Study 8 2017 Direct subsidies and R&D output in firms

Table A2. Subsidy programme participation equation (Logit) IMPULS TIP ALFA 2.566*** (0.239) 1.366*** (0.277) 0.783*** (0.231) 0.929*** (0.214) -0.591** (0.250) 0.255 (0.247) -0.662 (0.506) 0.334 (0.579) 1.165** (0.488) 0.233*** (0.069) 0.541*** (0.172) 0.173** (0.085) 0.003 (0.006) 0.006** (0.003) -0. 346*** (0.147) .. .. .. 0.518 (0.712) -0.057 (1.014) -0.163 (0.840) 0.639 (0.758) 1.517** (0.728) .. .. .. .. .. .. -0.625*** (0.168) -1.180*** (0.179) -8.943*** (1.142) Yes 16,045 χ2(34)=1684.04*** 0.473 0.454 R&D subsidy participant (t-1) 2.776*** R&D subsidy participant (t-2) 0.342 R&D subsidy participant (t-3) 1.069*** (0.203) (0.263) (0.230) (0.219) (0.229) (0.242) (0.594) (0.602) (0.580) (0.062) (0.116) (0.071) (0.005) (0.003) (0.134) (1.275) (0.603) (0.747) (0.900) (0.916) (0.808) (0.769) (0.195) (0.194) (0.193) (0.197) .. .. .. .. (1.014) 2.110*** 1.179*** 1.264*** 0.549*** 0.146 0.325 0.005 -0.237 0.546 0.314*** 0.135 0.211*** -0.001 0.005** -0.583*** .. 1.400** -1.745* 0.794 -0.622 -0.356 0.013 1.071 .. .. .. .. -1.524*** -1.113*** -2.013*** .. -7.955*** Yes 20,797 (0.233) (0.261) (0.203) (0.190) (0.205) (0.211) (0.441) (0.487) (0.455) (0.056) (0.122) (0.069) (0.005) (0.003) (0.125) (0.644) (1.022) (0.783) (1.082) (0.906) (0.843) (0.796) (0.173) (0.157) (0.176) .. (1.045) Czech IP application (t-1) Czech IP application (t-2) Czech IP application (t-3) 0.051 International IP application (t-1) -0.951 International IP application (t-2) 0.343 International IP application (t-3) 1.028* 0.527** 0.628*** log(Number of employees) log(Firm's age) log(Operating revenue per employee) 0.028 ROA using P/L before tax (%) -0.008 0.205*** -0.234** Solvency ratio (%) Limited liability company (s.r.o.) Limited partnership (k.s.) General partnership (v.o.s.) Cooperative (družstvo) C - Manufacturing D - Electricity E - Water Supply J - ICT M - Professional Activities 0.304 0.005** -0.785*** -2.094 .. -0.828 0.540 0. 037 -1.042 0.314 Year of subsidy=2005 Year of subsidy=2006 Year of subsidy=2007 Year of subsidy=2008 Year of subsidy=2010 Year of subsidy=2011 Year of subsidy=2012 Year of subsidy=2013 Intercept -0.440** -0.441** -0.543*** -0.609*** .. .. .. .. -5.136*** Region fixed effects Number of observations LR χ2(38)=1419.82*** Yes 20,109 McFadden R2 McFadden R2 (adjusted) 0.359 0.339 χ2(37)=2102.33*** 0.454 0.438 Note: Standard errors in parentheses; variables without index are 1-year lagged; baseline: Industry - Mining and Quarrying (B), year - 2004; 2009; 2011 (respectively), region – Prague and legal form - joint stock company; * p<0.05, ** p<0.01, *** p<0.001. 47