Modelling the Effects of Public Support to Small Firms in the UK - Paradise Gained?



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
products/services in present markets______

-0.325

-1.23

-0.306

-1.18

Strategy - increase the sale of present
products/services in present markets_______

0.260

ÏTÔT

0.232

09?

Strategy - increase sales by selling present
products/services in new markets_________

-0.147

-0.72

Strategy - develop new products/services
for new markets________________________

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
experience______________________________

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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