From: Home purchase restriction, real estate investment, and corporate innovation
Variable | (1) | (2) |
---|---|---|
Y = RDit | Y = RDit | |
Treatit × Afterit | 0.3031** | −0.2999** |
(2.094) | (−2.028) | |
Sizeit | 0.5862*** | 0.9295*** |
(3.663) | (14.082) | |
LEVit | 0.1771 | −1.9966*** |
(0.557) | (−5.972) | |
Growthit | −0.0158 | 0.1459 |
(−0.215) | (1.157) | |
ROAit | 0.4887 | −0.3722 |
(0.904) | (−0.396) | |
Top5it | 2.2205** | −0.0759 |
(2.272) | (−0.200) | |
Stateit | −0.8092 | −0.2024* |
(−1.615) | (−1.688) | |
Constant | 3.7024 | −1.7939 |
(1.075) | (−1.280) | |
Industry FE | YES | YES |
Year FE | YES | YES |
No. of obs. | 1975 | 591 |
Number of firms | 918 | 310 |
R2 | 0.261 | 0.624 |