Table 2. Descriptive statistics of the main variables of interest.
|
Fixed characteristics^1' |
Firms |
Yes |
No | ||
|
Product__________________________ |
1042 |
51.1 |
48.9 | ||
|
Process__________________________ |
1042 |
55.2 |
44.8 | ||
|
Either Product or Process__________ |
1042 |
73.7 |
26.3 | ||
|
R&D spending (yes/no)___________ |
1042 |
63.3 |
36.7 | ||
|
Group________________________ |
1042 |
49.3 |
50.7 | ||
|
High-tech________________________ |
1042 |
33.2 |
66.8 | ||
|
Variables of interest ____________ |
Mean |
St.D. |
Min |
Max | |
|
Production per worker€ |
1042 |
311.67 |
268.42 |
16.54 |
2384.78 |
|
∆2log(Production∕L) __________ |
1042 |
2.11 |
30.45 |
-294.86 |
293.71 |
|
Capital Stock per worker€ |
1042 |
64.45 |
67.63 |
0.193 |
652.99 |
|
∆2log(Capital Stock∕L)b |
1042 |
17.60 |
42.03 |
-365.23 |
348.57 |
|
Total Workersa (L)_______________ |
1042 |
208.7 |
559.5 |
_6_______ |
12199 |
|
Temporary Workers Ratea,b |
1042 |
4.21 |
12.43 |
_0_______ |
100 |
|
R&D Workersa |
1020 |
7.47 |
34.08 |
_0_______ |
755 |
|
R&D investment per worker€,a ^ |
563 |
3.14 |
5.44 |
_0_______ |
77.672 |
|
R&D intensity (Production)a,b |
563 |
1.64 |
3.83 |
_0_______ |
57.6 |
|
Investment intensity (Production)a,b |
1042 |
3.86 |
5.18 |
_0_______ |
34.4 |
|
Cash flow per worker€,a |
1042 |
23.089 |
37.769 |
-86.603 |
736.728 |
|
Average Board age (years)________ |
1042 |
49.6 |
6.45 |
20 |
77 |
|
Age of the firma (years)____________ |
1033 |
26.9 |
20.0 |
0_______ |
172 |
Note: Dummy variables statistics are expressed in fraction. a measured in 2001. ° referred to 2001-2003
period, b in percentage points, € in thousand euros.
Table 3. Firm size and area distribution in the final sample of firms.
|
Small |
Medium |
Large |
North West |
North East |
Centre |
South | ||
|
Freq |
^206 |
^^658 |
178 |
176 |
154 |
160 |
152 | |
|
“% |
19.7 |
63.2 |
17.1 |
36.1 |
34.0 |
15.3 |
14.6 |
5. Results
5.1 Exogenous group formation
If the decision to innovate (and hence group formation) is taken for granted, equation (5) can be
estimated through OLS.
16
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