| Category . | Variable . | Description . |
|---|---|---|
| Foreign ownership | DFOR50 | Firms that had been majority holders (above 50%) |
| DFOR25 | Firms that had been dominant minority holders (25%–50%) | |
| DFOR10 | Firms that had predominantly been minority holders (10%–25%) (Predominantly is defined as more than two-thirds of the period.) | |
| DFOR_EXP: | The remaining firms that have been under a 25% or more foreign ownership stake in at least one of the years but less than two-thirds of the period. | |
| Modes and intensities of technological activities | RD_INT | Total research and development expenditure of ith firm as a proportion of its sales (%) |
| ROY_INT | Royalties and technical fees paid abroad by ith firm as a proportion of its sales to measure acquisition of disembodied technologies (%) | |
| CAPIMP_INT | Imports of capital goods by ith firm as a proportion of its sales to measure acquisition of embodied technologies (%) | |
| Firm specific | SIZE | Net sales (transformed into logarithms) |
| SIZE2 | Square of SIZE | |
| AGE | The current year net of the year of incorporation | |
| EX_INT | Exports of goods and services as % of net sales | |
| CAPINT | Net fixed assets as % of net sales | |
| IMPR_INT | Imports of raw materials and components as % of net sales | |
| PCM | Profits before tax as % of net sales | |
| Tax | Profits before tax as % of profits after tax | |
| Industry specific (Based on the cluster analysis) | HTECH_MFG | High technology and high product differentiation manufacturing industry = 1 |
| MTECH_MFG | Medium technology and high product differentiation manufacturing industry = 1 | |
| LTECH_MFG | Low technology and low product differentiation manufacturing industry = 1 | |
| HTECH_SER | High technology and high product differentiation services | |
| MTECH_SER | Medium technology and high product differentiation services |
| Category . | Variable . | Description . |
|---|---|---|
| Foreign ownership | DFOR50 | Firms that had been majority holders (above 50%) |
| DFOR25 | Firms that had been dominant minority holders (25%–50%) | |
| DFOR10 | Firms that had predominantly been minority holders (10%–25%) (Predominantly is defined as more than two-thirds of the period.) | |
| DFOR_EXP: | The remaining firms that have been under a 25% or more foreign ownership stake in at least one of the years but less than two-thirds of the period. | |
| Modes and intensities of technological activities | RD_INT | Total research and development expenditure of ith firm as a proportion of its sales (%) |
| ROY_INT | Royalties and technical fees paid abroad by ith firm as a proportion of its sales to measure acquisition of disembodied technologies (%) | |
| CAPIMP_INT | Imports of capital goods by ith firm as a proportion of its sales to measure acquisition of embodied technologies (%) | |
| Firm specific | SIZE | Net sales (transformed into logarithms) |
| SIZE2 | Square of SIZE | |
| AGE | The current year net of the year of incorporation | |
| EX_INT | Exports of goods and services as % of net sales | |
| CAPINT | Net fixed assets as % of net sales | |
| IMPR_INT | Imports of raw materials and components as % of net sales | |
| PCM | Profits before tax as % of net sales | |
| Tax | Profits before tax as % of profits after tax | |
| Industry specific (Based on the cluster analysis) | HTECH_MFG | High technology and high product differentiation manufacturing industry = 1 |
| MTECH_MFG | Medium technology and high product differentiation manufacturing industry = 1 | |
| LTECH_MFG | Low technology and low product differentiation manufacturing industry = 1 | |
| HTECH_SER | High technology and high product differentiation services | |
| MTECH_SER | Medium technology and high product differentiation services |
Source: Author's description.