Research on Innovation Efficiency of Listed Companies in Development Zone Based on the Three-Stage DEA-Tobit Model: A Case Study of Hubei Province

Table 4

Results of relevant parameters using the SFA model from 2012 to 2017.

The year 2012
	R&D capital stock slack		Relaxation value of all employees in the enterprise		Technician relaxation value
	Coefficient	value	Coefficient	value	Coefficient	value
Constant term	−78.190	−37	−3676.014	−46	−389.212	−164
Number of companies	69.814	76	647.049	651	11.919	2.78
Investment in fixed assets	309.354	327	17653.580	51	2267.552	785
Foreign direct investment	−213.276	−282	−9395.036	−79	−1218.832	−1747
Government subsidy	20.439	18	1832.107	4.6	181.544	63
Sigma-squared	14973.585	14986	11538049	11542640	202812.3	202809
Gamma	0.9999999	154338	0.9999999	851283	0.9999972	125817
Log-likelihood	−131		−213		−162
The year 2013
Constant term	−80.559	−90	−1022.431	−1080	66.687	94
Number of companies	123.185	135	56.712	4721	−134.399	352
Investment in fixed assets	98.591	99	3844.913	22	319.119	−51
Foreign direct investment	−127.364	−132	−2917.641	1204	−330.789	148
Government subsidy	111.382	111	5494.703	−1427	877.628	−377
Sigma-squared	19357.798	19357	5917432.6	5917424	284045.4	245718
Gamma	0.9999999	77	0.9999999	8964383	0.9999999	103130300
Log-likelihood	−135		−206		−160
The year 2014
Constant term	−111.985	5.2	−476.988	−13	−302.608	−302
Number of companies	110.905	14	873.191	−51	325.760	325
Investment in fixed assets	−84.161	−57	−1274.168	12	−67.630	−67
Foreign direct investment	35.054	18	301.777	71	23.149	23
Government subsidy	301.096	118	1635.974	446	388.014	388
Sigma-squared	27955.047	28018	2394380.6	2394373	119852.6	119852
Gamma	0.9999999	224506	0.9999999	506017	0.9880079	10
Log-likelihood	−141		−193		−159
The year 2015
Constant term	−131.693	−108	−3613.280	−67	−147.622	−147
Number of companies	115.129	125	−179.221	−12	−112.713	−112
Investment in fixed assets	5.454	13	6763.365	110	1755.248	1755
Foreign direct investment	12.941	18	−2783.636	−22	−1179.371	−1179
Government subsidy	−102.427	−105	−103.446	−2.6	−181.919	−181
Sigma-squared	42157.164	42157	7419775.3	7419670	146753.5	146753
Gamma	0.9999961	1109210	0.9999999	666463	0.09	0.09
Log-likelihood	−144		−211		−176