Innovation Facilitated by Universities: Balancing Enterprise and Regional Demands

Table 3

Preliminary analysis and test of enterprise model.

Variables	Model 1-1 OLS	Model 1-2 Poisson panel (RE)	Model 1-3 Poisson panel (RE)	Model 1-4 Poisson panel (RE)	Model 1-5 Poisson panel (RE)
Coefficients of the difference in quality between universities	14.400; (5.005)	20.439; (5.915)	28.535; (5.401)	27.135; (6.247)	27.203; (6.120)
Square of the coefficients of the difference in quality between universities	−7.551; (3.648)	−11.987; (4.253)	−19.200; (3.899)	−18.108; (4.465)	−18.201; (4.381)
Proportion of enterprise development expenditure in general closing assets			6.003; (0.414)	5.329; (0.512)	5.337; (0.512)
Proportion of the personnel on R&D positions in the enterprise			0.426 (0.028)	0.367 (0.029)	0.350 (0.029)
Proportion of the graduates of “211 Project” and “985 Project” key universities in senior executives in the enterprise			0.144; (0.054)	0.359; (0.055)	0.372; (0.055)
Per-capita GDP of the province where the enterprise is located				0.277; (0.004)	0.277; (0.004)
The turnover of the patents in the province (provincial-level city or autonomous region where the enterprise is located)				−0.094; (0.032)	−0.119; (0.032)
Number of years after the enterprise went public					−0.008; (0.007)
Registered capital of the enterprise					−0.678; (0.180)
Cons	−2.592; (0.971)	−5.433; (2.059)	−8.360; (1.875)	−8.731; (2.193)	−8.471; (2.148)
N	16193	16193	14647	14638	14638
Wald chi^2	7.46	254.64	492.54	5197.85	8451.83
P	0.024	≤0.001	≤0.001	≤0.001	≤0.001

Note. 1. The values outside and inside the parentheses represent estimated coefficients and standard errors, respectively;, , and represent significance levels of 1%, 5%, and 10%, respectively. 2. Limited by page width, the text description of explanatory variables and control variables is not listed. The specific comparison is shown in Table 1.