Panel data regression models with Fixed Effects
| Y = w_employeesi,t | Model 1A | Model 2A |
|---|---|---|
| Independent variable | ||
| w_managersi,t | 0.36*** (0.13) | – |
| Interaction terms | ||
| flexible_working_hoursi,t | – | −8.36** (4.39) |
| interact_term_1i,t | – | 0.48*** (0.15) |
| interact_term_0i,t | – | 0.14 (0.12) |
| Control variables | ||
| w_direct_executivei,t | 0.03 (0.06) | 0.04 (0.05) |
| female_bdi,t | −0.00 (0.04) | −0.01 (0.04) |
| bd_sizei,t | −0.38* (0.22) | −0.40* (0.22) |
| roei,t | 0.72** (0.33) | 0.66** (0.31) |
| Constant | 26.22*** (3.19) | 31.91*** (3.38) |
| No. of obs | 512 | 512 |
| No. of groups | 189 | 189 |
| F-statistics | 2.43*** | 2.34*** |
| R2 | 0.14 | 0.18 |
| Post hoc analysis | ||
| Hausman test | 13.62** | 14.62** |
| LM-Poolability test | 90.16*** | 70.50*** |
| Modified Wooldridge test | <0.01 | <0.01 |
| Mean VIF | 1.13 | 1.18 |
| Model 1A | Model 2A | |
|---|---|---|
| 0.36*** (0.13) | – | |
| – | −8.36** (4.39) | |
| – | 0.48*** (0.15) | |
| – | 0.14 (0.12) | |
| 0.03 (0.06) | 0.04 (0.05) | |
| −0.00 (0.04) | −0.01 (0.04) | |
| −0.38* (0.22) | −0.40* (0.22) | |
| 0.72** (0.33) | 0.66** (0.31) | |
| 26.22*** (3.19) | 31.91*** (3.38) | |
| No. of obs | 512 | 512 |
| No. of groups | 189 | 189 |
| F-statistics | 2.43*** | 2.34*** |
| 0.14 | 0.18 | |
| Hausman test | 13.62** | 14.62** |
| LM-Poolability test | 90.16*** | 70.50*** |
| Modified Wooldridge test | <0.01 | <0.01 |
| Mean VIF | 1.13 | 1.18 |
Note(s): The standard errors in parentheses are robust to heteroskedasticity and autocorrelation; Year fixed effects were included in all models; The LM-Poolability value represents the p-value of the Breusch–Pagan Lagrange multiplier test; The Modified Wooldridge value indicates the p-value of the Modified Wald test; The Hausman value represents the p-value of the Hausman test
Significance levels: *p < 0.1; **p < 0.05; ***p < 0.01
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