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-country or panel data and made use of GDP as the dependent variable. The selection of variables for this study took these empirical studies into consideration; however, our final model is based on the objectives of this study and the availability of data. We

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data of this study are obtained from the COMPUSTAT database and the patent data of this study are gathered from United States Patent and Trademark Office (USPTO). There are 90 American pharmaceutical companies in the sample. The panel data in this study

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.05, *significance at 0.1 level. The panel data analysis included fixed effects, which remove the effects of time-invariant characteristics of economies. The functional form of the model for panel economy-wide data is given as follows: (5) ln ⁡ λ i = α + β ′ x i t

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fluctuations in R&D activities. Thus, we apply the DEA/window model to carry out panel data analysis. The DEA/window model was proposed by Klopp (as cited in Cooper et al. ( 2011 )) and is a representative model that is utilized in time-dependent situations

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pushes the productive sector. Chaves and Moro ( 2007 ) investigated the pattern of S&T interplay for both the national system of innovation (NSI) and the health innovation system. The panel data and simultaneous equations models analyze the interaction

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endogeneity bias since the unobserved panel-level effects can be correlated with the lags of the dependent variable. One can use the dynamic panel data system estimator developed by Arellano-Bover/Blundell-Bond, using GMM estimation on first differenced

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Spillovers from Foreign Direct Investment: Evidence from UK Industry Level Panel Data . Journal of International Business Studies , 31 ( 3 ): 407 – 425

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Acta Oeconomica
Authors: GheorghiŢa Dincă, Marius Sorin Dincă, and Maria LetiŢia Andronic

). Varabyova – Schreyögg (2013) performed panel-data analysis and found that higher health expenditures influence the efficiency in the hospital sector. Cheng – Zervopoulos (2014) used a generalised directional distance function to measure health systems

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Acta Oeconomica
Authors: Gergely Csurilla, András Gyimesi, Erika Kendelényi-Gulyás, and Tamás Sterbenz

-Godfrey/Wooldridge test is applicable to test for serial correlation in the idiosyncratic (country-sport specific) errors in the panel data ( Wooldridge 2010 ). The null hypothesis of no serial correlation is rejected in the linear model with 1 lag but cannot be rejected

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innovation and market value: Evidence from Japanese firm level panel data ( IIR Working Paper, WP#05 - 06 ) . Tokyo : Institute of Innovation Research, Hitotsubashi University . Nanba , H. , Fujii , A

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