互联网技术普及下的金融市场与创新: 基于全球视角下的检验

黄兆君, 田轩

The Real Impact of Internet Penetration on Financial Market Efficiency: From a Global Perspective

Zhaojun HUANG, Xuan TIAN

表1 主要变量描述性统计

均值 标准差 25%分位数 中位数 75%分位数 Patent 0.029 0.119 0.000 0.001 0.011 Top75_Citation 0.021 0.105 0.000 0.000 0.007 Top75_Claim 0.020 0.089 0.000 0.000 0.007 Citation 0.018 0.090 0.000 0.000 0.007 Claim 0.024 0.107 0.000 0.001 0.009 Financial (%) 177.084 96.009 92.812 168.531 247.688 Internet (%) 47.764 23.361 30.880 48.435 66.921 GDP_g (%) 2.823 3.492 1.118 2.744 4.968 Population_g (%) 0.826 0.751 0.271 0.754 1.289 Labor (%) 0.716 0.072 0.672 0.718 0.777 Export (%) 43.386 35.193 23.594 32.547 50.091 R & D (%) 1.398 0.972 0.635 1.140 1.931 Export_US 0.027 0.047 0.002 0.010 0.017 样本量 13, 787