Table 3. Conditional and Random Parameters Logit Results
|
CLI |
CLII |
RPL | |
|
Technology Fixed Effects | |||
|
&SNCR |
-1.91** |
-1.86** |
-0.94* |
|
(0.30) |
(0.30) |
(0.40) | |
|
&SCR |
-0.97** |
-0.55** |
0.82** |
|
(0.19) |
(0.20) |
(0.38) | |
|
асм |
-1.77** |
-1.77** |
-1.18 |
|
(0.29) |
(0.28) |
(0.38) | |
|
&OFA |
-1.70** |
-1.64** |
-1.45** |
|
(0.35) |
(0.33) |
(0.42) | |
|
aiNBi |
-1.59** |
-1.41** |
-0.13 |
|
(0.33) |
(0.53) |
(0.51) | |
|
&LNC2 |
-2.27** |
-2.15** |
-0.67 |
|
(0.42) |
(0.44) |
(0.56) | |
|
O-LNC3 |
-2.31** |
-2.36** |
-1.84** |
|
(0.53) |
(0.53) |
(0.57) | |
|
&LNB |
-0.40 |
-0.44** |
-0.27 |
|
(0.39) |
(0.43) |
(0.50) | |
|
Cost Variables | |||
|
Annual operating cost (V) |
-0.30** |
-0.33** |
-0.80** |
|
($100,000) |
(0.06) |
(0.06) |
(0.15) |
|
σv |
— |
-0.90** | |
|
(0.16) | |||
|
V*Restructured |
- |
-0.01 |
-0.51** |
|
(0.07) |
(0.16) | ||
|
σvR |
— |
0.69** | |
|
(0.13) | |||
|
Capital cost (K) |
-0.08** |
0.01 |
0.21 |
|
($100,000) |
(0.01) |
(0.04 |
(0.14) |
|
<∣κ |
— |
— |
0.15** |
|
(0.05) | |||
|
K*Restructured |
— |
0.04 |
0.16 |
|
(0.04) |
(0.23) | ||
|
σκR |
— |
— |
0.48** |
|
(0.10) | |||
|
K*Age |
— |
-0.04** |
-0.20** |
|
(0.02) |
(0.07) | ||
|
σκA |
— |
0.06** | |
|
(0.02) | |||
|
K*Age*Restructured |
— |
-0.02* |
-0.13* |
|
(0.01) |
(0.06) | ||
|
σκAR |
0.02 | ||
|
(0.01) | |||
|
Log-likelihood |
-955.04 |
-917.16 |
-783.61 |
Robust standard errors are in brackets. The age interaction variables are scaled by 0.1.
*Indicates significance at 5%. **Indicates significance at 1%.
42