The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 5 Regression results of growth of sales and operational profits (IPR flows)
| Â | Annual growth rate of sales (%) [fixed effect model] | Annual growth of operating profits [pool model OLS] | ||
|---|---|---|---|---|
[1] | [2] | [1] | [2] | |
All | Listed | All | Listed | |
Flow of patens (previous 3 years) | − 0.019 (0.000) | − 0.009 (0.000) | 1.318 (6.024) | 1.486 (6.453) |
Flow of trademark registrations | 0.011 (0.000) | 0.008 (0.000) | 2.466 (4.554) | 2.137 (3.763) |
Flow of design patents (packages and related) | 0.136 (0.001) | 0.149 (0.001) | 46.878 (50.630) | 43.435 (53.952) |
Flow of design patents (food shapes and tableware) | 0.303** (0.001) | 0.273** (0.001) | 64.024 (121.682) | 58.551 (116.731) |
Flow of design patents (manufacturing equipment) | − 0.129 (0.004) | − 0.008 (0.002) | 512.493 (368.840) | 521.589 (407.770) |
Log (Number of employees) | Â | 20.359* (0.080) | Â | 49.427 (238.357) |
Asset intensity |  | 0.197 (0.001) |  | − 1.015 (3.153) |
Log (Sales in the previous year) | − 36. 404*** (0.042) | − 49.054*** (0.060) |  |  |
Sales (million) in the previous year | Â | Â | 0.000 (0.002) | 0.000 (0.002) |
Constant | 378.123*** (0.440) | 384.566*** (0.747) | 284.917 (192.322) | 115.209 (1436.037) |
Year dummies | Â | Â | Yes | Yes |
Observations | 912 | 480 | 726 | 480 |
Number of firms | 191 | 98 | Â | Â |
Adjusted R2 (within) | .268 | .371 | .059 | .060 |
 (between) | .064 | .073 |  |  |
 (overall) | .019 | .017 |  |  |
F-value | 14.33*** | 11.18*** | 3.47*** | 2.80*** |