Table 6. The effect of academic freedom (AF) on innovation output (patent applications) when considering different lags of the dependent variable.
| Model | (1) | (2) | (3) | (4) | (5) | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Dependent variable | Patent applicationst (ln) | Patent applicationst+1 (ln) | Patent applicationst+2 (ln) | Patent applicationst+3 (ln) | Patent applicationst+4 (ln) | |||||
| Statistic | Coeff. | (SE) | Coeff. | (SE). | Coeff. | (SE) | Coeff. | (SE) | Coeff. | (SE) |
| Independent variable | ||||||||||
| AF (z) | 0.335 | (0.032)*** | 0.343 | (0.032)*** | 0.345 | (0.032)*** | 0.336 | (0.032)*** | 0.327 | (0.033)*** |
| Controls | ||||||||||
| Year/country dummies | Yes | Yes | Yes | Yes | Yes | |||||
| Countries (observations) | 157 | (12,706) | 157 | (12,549) | 157 | (12,392) | 157 | (12,235) | 157 | (12,078) |
| R2 (R2 adjusted) | 0.807 | (0.803) | 0.809 | (0.805) | 0.811 | (0.807) | 0.812 | (0.807) | 0.812 | (0.808) |
Notes: The estimates are obtained from pooled OLS regressions. All variables are described in Table 1. Robust standard errors in parentheses.
* p < 0.10
** p < 0.05
*** p < 0.01.