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

Table 2

The result of correlation analysis.

	RD	GOV	MS	MC	lnAGE	Size	Profit	Debt	SOE
RD	1
GOV	0.346	1
MS	−0.034	0.0129	1
MC	0.082	0.0427	0.2050	1
lnAGE	−0.061	−0.0566	−0.0425	−0.0393	1
Size	−0.217	−0.1429	−0.3302	−0.1818	0.1605	1
Profit	0.180	0.1063	0.0394	0.0660	−0.0176	−0.1450	1
Debt	−0.1883	−0.0542	−0.1192	−0.00420	0.1011	0.4008	−0.0458	1
SOE	−0.0476	0.0154	−0.0402	0.0210	0.1578	0.2891	−0.0682	0.2417	1