Table 7. Logit regression of patent application and commercialization

Dependent variables	Log odd ratio of the probability of patent application		Log odd ratio of the probability of commercialization
Specification	Spec. 1	Spec. 2.	Spec. 3	Spec. 4.
β1 Zombie statusi	0.437* (0.26)	0.278 (0.33)	–0.195 (0.22)	–0.255 (0.28)
β2 Zombie statusi×ILZSi		0.368 (0.51)		0.146 (0.45)
β3 Government fundi	0.064*** (0.02)	0.065*** (0.02)	–0.008 (0.01)	–0.008 (0.01)
β4 Project durationi	0.146 (0.09)	0.145 (0.09)	0.190*** (0.07)	0.190*** (0.07)
β5 Partnersi	0.146** (0.06)	0.145** (0.06)	0.125** (0.06)	0.124*** (0.05)
β6 Technological readiness level	-	-	0.205*** (0.05)	0.204*** (0.05)
Constant	–0.912*** (0.33)	–0.932** (0.33)	–2.392*** (0.44)	–2.397*** (0.43)
Observations	767	767	722	722
Tech. field Fixed1)	Yes	Yes	Yes	Yes
Log likelihood	–413.530	–413.251	–443.424	–443.369

are statistical significance at 1%,
5%,
10%, respectively; and standard errors are also reported in parentheses.
Tech. field includes the followings: 1 (machine), 2 (electronics), 3 (information technology), 4 (chemical), 5 (bio), 6 (energy), 7 (service), 8 (ceramics). ILZS, industry with lower zombie share.