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 5

Descriptive statistics of variables.

Variable	Obs	Mean	Standard deviation	Min	Max
Product innovation	2,700	0.3759259	0.4844508	0	1
Process innovation	2,700	0.5348148	0.4988788	0	1
Internal financing	2,646	88.70295	20.75148	0	100
External financing	2626	11.10368	19.80966	0	100
Bank loans	2,639	6.902994	14.86481	0	100
Commercial credit	2,639	3.011747	10.18581	0	100
Nonbank loans	2,636	0.7640364	5.597547	0	100
Equity financing	2,700	0.5196296	0.4997071	0	1
Other loans: informal	2,635	0.6425047	4.18984	0	4.61512
Size	2,699	235.7362	1120.516	4	30,000
Degree of informatization	1,657	11.17924	1.887501	2	19
Export status of the enterprise	2,698	0.7601927	0.4270449	0	1
International certification	2,681	0.61768	0.4860448	0	1
Age	2,627	12.72021	7.911288	0	125