How Does Foreign Equity Right Impact Manufacturing Enterprise Innovation Behaviors? Mediation Test Based on Technology Introduction

Table 4

Model regression results.

Variables	Probit model			Marginal effect
	Model 1	Model 2	Model 3
FER	0.245	0.757	0.047	0.093
	(1.77)	(5.24)	(0.32)
Educational background of employee	0.003	0.007	0.002	0.001
	(2.12)	(4.68)	(1.17)
Enterprise size	0.153	0.191	0.121	0.058
	(5.13)	(5.61)	(3.91)
Enterprise age	−0.009	−0.010	−0.008	−0.003
	(−2.04)	(−1.88)	(−1.65)
International certification	0.194	0.491	0.083	0.073
	(2.44)	(4.79)	(1.00)
Degree of informatization	−0.004	−0.003	−0.004	−0.001
	(−2.13)	(−1.27)	(−2.03)
Technology introduction			0.790
			(8.82)
Industrial characteristics	Control	Control	Control	Control
R^2	0.0357	0.105	0.173
N	1,433	1,397	1,395

Z value is included in the bracket; ^∗∗and ^∗∗∗represent significance at the levels of 10%, 5%, and 1%, respectively.