Innovation Facilitated by Universities: Balancing Enterprise and Regional Demands

Table 5

Result of the re-estimation of enterprise model.

Variables	Mode 3-1 Poisson; panel (RE)	Model 3-2 Poisson panel (RE)	Model 3-3 Poisson panel (RE)
Coefficients of the difference in the quality of university operations	26.647; (6.029)	26.712; (5.899)	23.661; (5.962)
Squares of coefficients of the difference in the quality of university operations	−17.786; (4.319)	−17.559; (4.241)	−14.872; (4.323)
Proportion of enterprise development expenditure in total closing assets	4.966; (0.511)	4.970; (0.510)	4.981; (0.511)
Proportion of the enterprise’s personnel on R&D positions	0.349; (0.028)	0.351; (0.028)	0.345; (0.028)
Proportion of the graduates of “211 Project” or “985 Project” key universities in senior executive positions of the enterprise	0.371; (0.055)	0.369; (0.055)	0.378; (0.055)
Per-capita GDP of the province (provincial-level city or autonomous region)	0.291; (0.006)	0.290; (0.006)	0.290; (0.006)
Turnover of patents in the province (provincial-level city or autonomous region where the enterprise is located)	−0.113; (0.032)	−0.116; (0.032)	−0.128; (0.032)
Number of years since the enterprise became a listed one	−0.008; (0.007)	−0.007; (0.007)	−0.006; (0.007)
Registered capital of the enterprise	−0.619; (0.176)	−0.617; (0.176)	−0.617; (0.177)
Average score of the scores about the quality of university operations	−0.038; (0.111)	−0.038; (0.112)	−0.037; (0.111)
D11		0.243; (0.198)	−0.154; (0.248)
D12			0.517; (0.185)
_Cons	−2.592; (0.971)	−8.444; (2.070)	−7.669; (2.074)
N	4598	4598	4598
Wald chi^2	5193.43	5195.08	5207.09
Log likelihood	−27785.02	−27784.23	−27779.86
P	0.024	≤0.001	≤0.001

Note. The values outside and inside the parentheses represent estimated coefficients and standard errors, respectively, while , , and represent significance levels of 1%, 5%, and 10%, respectively.