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Table 6 Effects of foreign residency rights on Post-IPO firm investment and innovation

From: The effects of entrepreneurial long-term commitment on post-IPO performance: Chinese evidence

  CAPEX_TA LOG_RD LOG_PATENT PATENT_RD
(1) (2) (3) (4)
TREATED×POST −0.002 (− 0.24) − 0.732a (−7.30) − 0.183a (−4.89) −0.085a (−8.57)
TREATED 0.001 (0.09) 0.055 (0.18) 0.037 (1.06) 0.035a (4.48)
POST −0.044a (−11.89) 1.811a (4.40) 0.459a (16.60) −0.034 (−1.24)
Industry fixed effects included? Yes Yes Yes Yes
No. of obs. 4590 5481 5481 713
Adjusted R2 0.071 0.072 0.117 −0.005
  1. This table presents DID results for main variables of firm outcomes around IPO. t-values are reported in parentheses. The sample includes 918 non-state IPO firms for the period 2006 to 2012 that have the post-IPO period of at least 3 years. See Appendix for variable definitions
  2. a, b, and c stand for significance at the 1, 5, and 10% level, respectively