Enterprise Financing Mode and Technological Innovation Behavior Selection: An Empirical Analysis Based on the Data of the World Bank’s Survey of Chinese Private Enterprises

Table 3

Explanatory variable.

Variable dimension	Variables	Description of variables	Questions in the questionnaire	Assignments to answer
Internal financing	Internal financing	Enterprise’s own capital	k3a	Raw data
External financing	Bank loans	Loans obtained by enterprises from banks	k3bc	Raw data
	Commercial credit	Lending activities between enterprises in the form of commodities	k3f	Raw data
	Nonbank loans	Loans obtained by enterprises from financial institutions other than banks	k3e	Raw data
	Other loans: informal financing	Funds obtained from relatives and friends or usuries/loans obtained by enterprises from financial institutions other than banks	k3hd/k3e	Raw data
	Equity financing	Shareholders of an enterprise are willing to transfer part of their shareholding and introduce new shareholders by means of capital increase	b1	”Sole proprietorship enterprise” = 0 “joint-stock enterprise”/“partnership enterprise”/“Other” = 1