Learning-by-Exporting? Firm-Level Evidence for UK Manufacturing and Services Sectors



Table 3 (cont.)

^^^^^^Industries:
Independent variablcs^^^^

______CON_____

______RSM______

_____WHO____

______RHR______

β

t- stat

β

t- stat

β

t- stat

β

t- stat

ln gross outputt-1

0.038

0.58

0.398

4.49

0.460

8.02

0.387

3.37

ln M x EXP_always

0.691

5.64

0.823

4.66

0.460

2.80

0.771

2.61

ln M x EXP_never

0.799

15.93

0.729

10.20

0.583

3.20

0.380

2.87

ln M x EXP_entry

0.898

19.43

0.914

31.09

0.459

5.45

0.633

4.68

ln M x EXP_exit

0.635

5.17

0.872

20.66

0.271

3.06

0.576

2.66

ln M x EXP_both

0.951

24.15

0.867

11.88

0.608

8.43

0.426

2.12

ln K x EXP_always

0.229

2.99

0.121

2.05

0.107

2.66

0.234

2.96

ln K x EXP_never

0.159

2.55

0.102

2.27

0.257

2.05

0.137

2.60

ln K x EXP_entry

0.124

2.05

0.073

2.05

0.071

2.67

0.102

2.39

ln K x EXP_exit

0.141

2.73

0.049

2.17

0.205

2.35

0.077

1.84

ln K x EXP_both

0.162

2.46

0.022

1.68

0.302

2.03

0.228

2.61

ln E x EXP_always

0.171

2.23

0.263

2.99

0.579

2.76

0.437

2.51

ln E x EXP_never

0.161

2.68

0.182

3.86

0.232

2.00

0.453

2.63

ln E x EXP_entry

0.119

2.22

0.058

2.03

0.598

3.43

0.539

2.80

ln E x EXP_exit

0.446

3.66

0.088

2.55

0.243

2.65

0.186

2.43

ln E x EXP_both

0.049

1.99

0.208

2.13

0.144

2.04

0.291

1.85

t x EXP_both

0.014

2.44

-0.001

-0.08

0.015

0.73

-0.006

-0.01

t x EXP_never

-0.004

-0.85

0.000

0.01

0.016

2.24

-0.023

-1.69

t x EXP_entry

0.008

0.38

-0.015

-0.54

0.181

1.95

0.022

0.52

t x EXP_exit

-0.044

-1.67

0.010

0.34

0.132

1.38

0.045

0.43

t x EXP_always

-0.021

-1.36

-0.004

-0.16

0.005

0.41

-0.021

-0.50

EXP_entry t+1

0.069

1.34

0.051

0.76

-0.341

-0.91

-0.605

-2.18

EXP_entry t

0.101

1.95

0.065

0.79

-0.376

-1.82

0.104

0.79

EXP_entry t-1

-0.123

-1.59

0.019

0.29

-0.157

-0.67

-0.067

-0.39

EXP_exit t+1

0.069

0.58

-0.446

-3.68

-0.426

-1.63

-0.111

-0.55

EXP_exit t

-0.151

-1.12

0.048

0.51

0.000

0.00

-0.596

-0.64

EXP_exit t-1

-0.004

-0.05

0.131

1.82

-0.375

-1.65

0.111

0.14

EXP_both t+1

0.033

1.17

0.166

1.40

-0.213

-2.56

0.566

0.63

EXP_both t

0.026

0.96

0.047

0.46

0.181

1.31

0.135

0.39

EXP_both t-1

-0.010

-0.42

0.078

1.04

-0.132

-2.10

0.323

0.34

Constant x EXP_always

1.520

3.46

0.660

0.82

3.151

1.83

-0.273

-0.09

Constant x EXP_never

-0.180

-0.35

1.032

1.16

-0.684

-0.41

3.403

1.25

Constant x EXP_entry

-0.425

-0.54

0.213

0.25

-0.297

-0.17

2.282

0.70

Constant x EXP_exit

0.455

0.51

0.791

0.89

1.549

0.66

3.614

1.21

Constant x EXP_both

Industry dummies

Region dummies

Diagnostic statistics

No. of Obs.

No. of groups

Hansen-test ( χ2 )

AR(1) z-statistic

AR(2) z-statistic________________

-1.090

yes

yes

10531

3055

295.22
***

-2.74***

1.93

-2.06

0.394

yes

yes

6094

1644

167.54
_ _ _**

-2.05

-0.66

0.37

-0.337

yes

yes

12753

3389

___ _ **

374.03

-3.69

-3.69

-0.19

5.904

yes

yes

10414

2978

226.59

-4.02

1.46

0.53

25



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