Table 2 Baseline model – Results Probit...

Table 2

Baseline model – Results

		Probit	IPW	IVH	Probit	IPW	IVH
		(1)	(2)	(3)	(4)	(5)	(6)
(ln) No. Training programs	t−1	0.0660*	−0.0021	0.0114***
		(0.037)	(0.008)	(0.004)
	t−2	0.1093***	0.0145*	0.0193***
		(0.036)	(0.008)	(0.004)
	t−3	0.1140***	0.0213**	0.0179***
		(0.036)	(0.009)	(0.004)
(ln) Training hours (p. c.)	t−1				−0.0577	−0.0120***	0.0010
					(0.050)	(0.004)	(0.004)
	t−2				0.0325	−0.0016	0.0068
					(0.044)	(0.006)	(0.004)
	t−3				−0.0052	0.0035	−0.0036
					(0.043)	(0.007)	(0.005)
Other controls		yes	yes	yes	yes	yes	yes
R-squared			0.029	0.054		0.028	0.052
Observations		68,021	67,859	70,695	68,021	67,859	70,695

		Probit	IPW	IVH	Probit	IPW	IVH
		(1)	(2)	(3)	(4)	(5)	(6)
(ln) No. Training programs	t−1	0.0660*	−0.0021	0.0114***
		(0.037)	(0.008)	(0.004)
	t−2	0.1093***	0.0145*	0.0193***
		(0.036)	(0.008)	(0.004)
	t−3	0.1140***	0.0213**	0.0179***
		(0.036)	(0.009)	(0.004)
(ln) Training hours (p. c.)	t−1				−0.0577	−0.0120***	0.0010
					(0.050)	(0.004)	(0.004)
	t−2				0.0325	−0.0016	0.0068
					(0.044)	(0.006)	(0.004)
	t−3				−0.0052	0.0035	−0.0036
					(0.043)	(0.007)	(0.005)
Other controls		yes	yes	yes	yes	yes	yes
R-squared			0.029	0.054		0.028	0.052
Observations		68,021	67,859	70,695	68,021	67,859	70,695

Note(s): Robust standard errors in parentheses clustered at the firm level. Other controls include (lagged from t−1 to t−3, and in natural logarithm): Value Added, Firm's age, Tot. Intangible assets, Total liabilities, Unit labour cost, Employees, TFP. Extended tables are reported in the Appendix. Sectoral fixed effects (NACE 2-digit) and year are always included. Lewbel IV (columns 3 and 6) includes an exogenous instrumental variable (see Section 4.2). Significance levels: *p < 0.1; **p < 0.05; ***p < 0.01

Source(s): Authors’ own work

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