Table 4 Heterogeneous effects by size...

Table 4

Heterogeneous effects by size classes

		1–49	50–249	250+	1–49	50–249	250+
		(1)	(2)	(3)	(4)	(5)	(6)
(ln) No. Training programs	t−1	0.0310***	0.0136*	0.0122
		(0.008)	(0.008)	(0.010)
	t−2	0.0216***	0.0128*	0.0168*
		(0.008)	(0.007)	(0.009)
	t−3	0.0180**	0.0035	0.0136
		(0.009)	(0.008)	(0.010)
(ln) Training hours (p. c.)	t−1				0.0048	0.0021	−0.0001
					(0.004)	(0.008)	(0.012)
	t−2				−0.0013	0.0010	0.0263**
					(0.004)	(0.007)	(0.012)
	t−3				−0.0005	−0.0025	0.0012
					(0.005)	(0.007)	(0.012)
Other controls		yes	yes	yes	yes	yes	yes
R-squared		0.014	0.042	0.100	0.013	0.041	0.100
Observations		24,658	32,847	13,034	24,658	32,847	13,034

		1–49	50–249	250+	1–49	50–249	250+
		(1)	(2)	(3)	(4)	(5)	(6)
(ln) No. Training programs	t−1	0.0310***	0.0136*	0.0122
		(0.008)	(0.008)	(0.010)
	t−2	0.0216***	0.0128*	0.0168*
		(0.008)	(0.007)	(0.009)
	t−3	0.0180**	0.0035	0.0136
		(0.009)	(0.008)	(0.010)
(ln) Training hours (p. c.)	t−1				0.0048	0.0021	−0.0001
					(0.004)	(0.008)	(0.012)
	t−2				−0.0013	0.0010	0.0263**
					(0.004)	(0.007)	(0.012)
	t−3				−0.0005	−0.0025	0.0012
					(0.005)	(0.007)	(0.012)
Other controls		yes	yes	yes	yes	yes	yes
R-squared		0.014	0.042	0.100	0.013	0.041	0.100
Observations		24,658	32,847	13,034	24,658	32,847	13,034

Note(s): IVH estimates. 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 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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