| 自变量 | 模型（1） | 模型（2） | 模型（3） | 模型（4） | 模型（5） | 模型（6） |
|---|---|---|---|---|---|---|
| 初生阶段 | 初生阶段 | 成长阶段 | 成长阶段 | 成熟阶段 | 成熟阶段 | |
| Unrelated Variety | 0.112*** | 0.129*** | 0.048** | -0.031 | -0.283*** | -0.484*** |
| (0.021) | (0.028) | (0.020) | (0.028) | (0.052) | (0.064) | |
| Related Variety | -0.010 | 0.039 | 0.177*** | 0.076*** | 0.587*** | 0.175*** |
| (0.011) | (0.026) | (0.022) | (0.026) | (0.040) | (0.056) | |
| Pgdp (log) | -0.029 | 0.087 | -0.334*** | |||
| (0.030) | (0.057) | (0.115) | ||||
| Population (log) | -0.092*** | 0.044 | 0.361*** | |||
| (0.025) | (0.057) | (0.084) | ||||
| Research (log) | 0.002 | -0.002 | -0.005 | |||
| (0.005) | (0.009) | (0.020) | ||||
| Tech Finance (log) | 0.009 | -0.004 | 0.052* | |||
| (0.006) | (0.012) | (0.030) | ||||
| Patent Stock (log) | -0.049** | 0.151*** | 0.463*** | |||
| (0.024) | (0.031) | (0.065) | ||||
| Renewable Stock Percent | 0.855*** | 1.624*** | 1.051*** | |||
| (0.122) | (0.330) | (0.396) | ||||
| Constant | 0.207*** | 1.061*** | 0.365*** | -1.180* | 0.189*** | -0.713 |
| (0.029) | (0.310) | (0.027) | (0.684) | (0.065) | (1.118) | |
| N | 4,275 | 4,275 | 4,275 | 4,275 | 4,275 | 4,275 |
| R2 | 0.111 | 0.134 | 0.234 | 0.256 | 0.555 | 0.590 |
| 年份固定 | 是 | 是 | 是 | 是 | 是 | 是 |
| 城市固定 | 是 | 是 | 是 | 是 | 是 | 是 |
