Modelling the Effects of Public Support to Small Firms in the UK - paradise Gained?
Table 4: Determinants of Productivity Growth
Equation 1 Equation 2
|
Coeff. |
T-stat |
Coeff. |
T-stat | |
|
BL Assistance |
1∙019** |
1.99 |
1.084** |
2~23^ |
|
Selection Parameter |
-0.507 |
-1.58 |
-0.536* |
________-1.71 |
|
Company Characteristics | ||||
|
Size In 1996 (Log Employment) |
-0.113 |
-1.05 |
-0.114 |
-1.05 |
|
Productivity Growth: 1994-96 |
-0.291** |
-2.27 |
-0.299** |
________-2.33 |
|
Objective - Export Growth |
-0.227 |
-1.25 |
-0.250 |
________-1.39 |
|
Strategy - maintain sales of present |
-0.325 |
-1.23 |
-0.306 |
-1.18 |
|
Strategy - increase the sale of present |
0.260 |
ÏTÔT |
0.232 |
09? |
|
Strategy - increase sales by selling present |
-0.147 |
-0.72 | ||
|
Strategy - develop new products/services |
0.264 |
137 |
0.225 |
121 |
|
Business Plan in operation/existence |
-0.172 |
-0.90 |
-0.193 |
-1.05 |
|
Owner-Manager Characteristics | ||||
|
O-M owns significant equity in business |
0.031 |
0.12 | ||
|
O-M shares equity with others |
-0.498** |
-2.49 |
-0.521** |
-2.60 |
|
O-M Age 40-50 |
-0.492** |
-2.58 |
-0.499** |
________-2.58 |
|
O-M has had previous small firm |
0.287 |
1.51 |
0.275 |
1.44 |
|
Location | ||||
|
Rural Cluster |
0.737** |
2.48 |
0.742* * |
2.49 |
|
Industrial City Cluster |
0.494* |
_________1.89 |
0.514** |
_________1.97 |
|
Constant |
-0.062 |
-0.11 |
-0.132 |
-0.25 |
|
Number of Observations |
123 |
123 | ||
|
Adj R-Squared |
0.119 |
0.132 | ||
|
F(∙∙) |
2.04 |
2.33 | ||
|
Log Likelihood |
-155.88 |
-157.29 |
Notes: The dependent variable in each model is the log difference of real productivity (sales per
employee) in 2000 and 1996. Turnover and employment data is taken from the survey
responses of firms. Sample selection is allowed for on the basis of equation 3 in Table 3.
Stephen Roper and Mark Hart
19
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