Table 1 Definition and Calculation of Main Variables.
Variable | Variable symbol | Variable construction |
|---|---|---|
Enterprise innovation level | \(innovate1\) | Take the natural logarithm of the number of enterprise patents added by 1 |
| Â | \(innovate2\) | Take the natural logarithm of the number of enterprise invention patents added by 1 |
Enterprise scale | \(size\) | Take the natural logarithm of the number of employees |
Enterprise age | \(age\) | Take the natural logarithm of the establishment time of the enterprise |
Asset liability ratio | \(lev\) | (Total liabilities/total assets) * 100 |
Government subsidies | \(sub\) | Natural logarithm of government subsidy amount |
Growth ability | \(growth\) | (Current operating income—previous operating income)/previous operating income |
Return on assets | \(roa\) | Net profit/total assets |
cash flow | \(cashflow\) | Net cash flow from operating activities/total assets |
