		(1)	(2)	(3)	(4)	(5)
		reg_1	reg_2	reg_3	reg_4	reg_5
VARIABLES	LABELS	\textit{Innovation Output}	\textit{Innovation Quality}	\textit{TFP}	\textit{ROIC}	\textit{Tobin's Q}
						
decoupling_l1	\textit{Decoupling}, $ t - 1 $	1.815***	0.568	0.122	-0.0804*	-0.439**
		(0.586)	(0.679)	(0.141)	(0.0429)	(0.207)
decoupling_l23	\textit{Decoupling}, $ t - 2/3 $	0.811	0.733	-0.330*	-0.00601	0.150
		(0.726)	(0.799)	(0.188)	(0.0541)	(0.280)
asset	\textit{Assets}	0.0594***	-0.0270	-0.00697	-0.0157***	-0.290***
		(0.0197)	(0.0211)	(0.00601)	(0.00186)	(0.00902)
age	\textit{Age}	-0.0353	0.0971	0.0592***	-0.00449	-0.00294
		(0.0758)	(0.0739)	(0.0204)	(0.00559)	(0.0298)
capex_ratio	\textit{Capex}	-0.0305	0.177	-0.398***	-0.0281**	-0.106
		(0.166)	(0.218)	(0.0456)	(0.0124)	(0.0655)
ppe_ratio	\textit{PP\&E}	-0.173*	0.0308	0.126***	0.0444***	-0.0684*
		(0.0894)	(0.109)	(0.0268)	(0.00813)	(0.0395)
leverage_ratio	\textit{Leverage}	0.00999	-0.177**	0.0277	0.00535	0.0742**
		(0.0645)	(0.0781)	(0.0210)	(0.00663)	(0.0291)
RnD_at_ratio	\textit{R\&D}	-0.168	-0.869	0.642***	0.220***	1.190***
		(0.644)	(0.716)	(0.164)	(0.0521)	(0.253)
						
Observations		14,739	14,739	14,739	14,739	14,739
Adjusted R-squared		0.607	0.186	0.657	0.445	0.793
Firm fixed effect		Yes	Yes	Yes	Yes	Yes
Year fixed effect		Yes	Yes	Yes	Yes	Yes
Robust standard errors in parentheses						
*** p<0.01, ** p<0.05, * p<0.1						
