Table 7. The effect of academic freedom (AF) on innovation output (forward citations) when considering different lags of the dependent variable.
| Model | (1) | (2) | (3) | (4) | (5) | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Dependent variable | Forward citationst (ln) | Forward citationst+1 (ln) | Forward citationst+2 (ln) | Forward citationst+3 (ln) | Forward citationst+4 (ln) | |||||
| Statistic | Coeff. | (SE) | Coeff. | (SE). | Coeff. | (SE) | Coeff. | (SE) | Coeff. | (SE) |
| Independent variable | ||||||||||
| AF (z) | 0.174 | (0.022)*** | 0.192 | (0.022)*** | 0.210 | (0.022)*** | 0.228 | (0.022)*** | 0.245 | (0.022)*** |
| Controls | ||||||||||
| Patent applications (ln) | Yes | Yes | Yes | Yes | Yes | |||||
| 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) | 0.616 | (0.608) | 0.621 | (0.613) | 0.626 | (0.618) | 0.631 | (0.623) | 0.636 | (0.628) |
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.