Table 7 Foreign networks and performance
|
(1)a) |
(2) a) |
Dependent variable : TFP_index |
(11) |
(12) | ||||||||
|
(3) a) |
(4) a) |
(5) a) |
(6) |
(7) |
(8) a) |
(9) |
(10) | |||||
|
IMP*EXP DUMMY |
0.129 |
0.204 | ||||||||||
|
[0.057]** |
[0.081]** | |||||||||||
|
Export Dummy |
0.011 | |||||||||||
|
[0.056] | ||||||||||||
|
Import Dummy |
-0.091 | |||||||||||
|
[0.114] | ||||||||||||
|
IE |
0.429 |
0.240 |
0.442 |
0.716 |
1.247 |
0.205 |
0.749 |
1.343 |
0.776 |
1.980 | ||
|
[0.108]*** |
[0.193]* |
[0.126]*** |
[0.284]** |
[0.353]*** |
[0.086]** |
[0.384]** |
[0.474]*** |
[0.324]** |
[1.201]* | |||
|
Import share |
0.108 |
-0.553 |
-0.613 | |||||||||
|
[0.174] |
[0.180]*** |
[0.240]** | ||||||||||
|
Export share |
0.077 |
0.038 |
-0.006 | |||||||||
|
[0.073] |
[0.082] |
[0.124] | ||||||||||
|
Imp. Sh. of non exporters |
-0.155 | |||||||||||
|
[0.119] | ||||||||||||
|
Exp. Sh. of non importers |
0.063 | |||||||||||
|
[0.084] | ||||||||||||
|
TFP_index (t-1) |
0.632 |
0.537 |
0.529 | |||||||||
|
[0.123]*** |
[0.122]*** |
[0.120]*** | ||||||||||
|
Age of the firm |
0.003 |
0.003 |
0.003 |
0.003 |
0.003 |
-0.001 |
0.001 |
0.001 |
-0.001 |
0.015 | ||
|
[0.002] |
[0.002] |
[0.002] |
[0.002] |
[0.002] |
[0.001] |
[0.001] |
[0.001] |
[0.002] |
[0.013] | |||
|
Share of public ownership |
0.004 |
0.004 |
0.005 |
0.004 |
0.005 |
-0.020 |
0.000 |
0.000 |
0.002 |
0.450 | ||
|
[0.002] |
[0.002] |
[0.002]** |
[0.002]* |
[0.002]** |
[0.012] |
[0.000] |
[0.000] |
[0.005] |
[0.384] | |||
|
Share of foreign ownership |
1.222 |
1.221 |
1.239 |
1.223 |
1.210 |
0.862 |
-0.042 |
0.040 |
1.158 |
3.483 | ||
|
[0.357]*** |
[0.355]*** |
[0.369]*** |
[0.391]*** |
[0.381]*** |
[0.269]*** |
[0.660] |
[0.652] |
[0.380]*** |
[2.073]* | |||
|
Constant |
1.098 |
1.116 |
1.090 |
1.091 |
1.101 |
1.015 |
1.041 |
0.386 |
-0.078 |
-0.065 |
1.084 |
0.000 |
|
[0.066]*** |
[0.056]*** |
[0.064]*** |
[0.061]*** |
[0.063]*** |
[0.035]*** |
[0.041]*** |
[0.149]** |
[0.131] |
[0.129] |
[0.128]*** |
[0.000] | |
|
Obs. |
548 |
548 |
548 |
548 |
548 |
559 |
559 |
414 |
247 |
247 |
281 |
281 |
|
R-squared |
0.09 |
0.10 |
0.10 |
0.10 |
0.10 |
0.02 |
0.05 |
0.51 |
0.14 | |||
|
Firm fixed effect |
Y |
Y | ||||||||||
|
Arellano Bond |
Y |
Y | ||||||||||
|
ARII |
-0.07 |
-0.17 | ||||||||||
|
P-value) |
(0.942) |
(0.861) | ||||||||||
|
Hansen- Sargan test |
24.01 |
23.97 |
2.207 | |||||||||
|
(P-value) |
(0.021) |
(0.019) |
(0.137) | |||||||||
|
Hansen J |
1.380 | |||||||||||
|
(P-value) |
(0.240) | |||||||||||
Notes: Robust standard errors in brackets, a)Errors are clustered at the industry-year level.
* significant at 10%; ** significant at 5%; *** significant at 1%
All the estimations include year sector, size and location controls .
21