The Effect of Government Subsidies on Firm R&D Investment in China: From Perspectives of Ownership and Market Power

Table 1

Descriptive statistics of main variables.

Variables	Obs	Mean	SD	Median	Min	Max
RD	5697	0.05	0.04	0.037	0.000	0.627
GOV	5697	0.01	0.02	0.006	0.000	0.424
MS	5697	0.34	0.18	0.303	0.001	0.997
MC	5697	0.31	0.20	0.262	0.009	1.000
AGE	5697	16.57	5.30	16.000	1.000	58.000
SIZE	5697	7.58	1.05	7.516	4.248	12.186
PROFIT	5697	0.14	0.27	0.102	0.000	13.276
DEBT	5697	0.04	0.02	0.037	0.001	0.181
SOE	5697	0.24	0.43	0.000	0.000	1.000