Heterogeneity analysis
| Sample | Sub-industry | Business size | Time | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Variable | (1) | (2) textile | (3) Garment | (4) Private | (5) State | (6) FDI | (7) Large | (8) Small and medium | (9) T = six years | (10) T ≥ three years |
| Ln(K/L) | 0.032*** (0.003) | −0.003*** (0.001) | 0.085*** (0.008) | 0.027*** (0.003) | 0.170* (0.092) | 0.101*** (0.017) | 0.055*** (0.012) | 0.030*** (0.003) | 0.039*** (0.007) | 0.032*** (0.004) |
| Ln(L) | −0.927*** (0.005) | −0.996*** (0.001) | −0.840*** (0.012) | −0.939*** (0.005) | −0.841*** (0.185) | −0.724*** (0.030) | −0.789*** (0.028) | −0.935*** (0.005) | −0.880*** (0.011) | −0.921*** (0.005) |
| Ln(LQ) | 0.027*** (0.002) | 0.007*** (0.001) | 0.054*** (0.007) | 0.025*** (0.002) | −0.011 (0.034) | 0.072*** (0.013) | 0.035*** (0.007) | 0.027*** (0.002) | 0.037*** (0.005) | 0.027*** (0.002) |
| Ln(DR) | 0.012*** (0.002) | 0.001 (0.001) | 0.022*** (0.005) | 0.011*** (0.002) | −0.065 (0.060) | 0.018*** (0.007) | 0.027*** (0.007) | 0.011*** (0.002) | 0.013*** (0.004) | 0.011*** (0.002) |
| Ln(TP) | 0.896*** (0.005) | 0.992*** (0.001) | 0.789*** (0.010) | 0.907*** (0.004) | 0.861*** (0.088) | 0.746*** (0.023) | 0.808*** (0.025) | 0.901*** (0.005) | 0.832*** (0.012) | 0.890*** (0.005) |
| Ln(PCI) | 0.084** (0.035) | −0.436*** (0.012) | 0.625*** (0.081) | 0.048 (0.038) | −0.266 (0.241) | 0.290*** (0.098) | 0.045 (0.072) | 0.129*** (0.042) | 0.157*** (0.054) | 0.099*** (0.037) |
| Constant | 5.759*** (0.151) | 8.256*** (0.047) | 3.046*** (0.336) | 5.930*** (0.159) | 7.804*** (1.598) | 4.052*** (0.441) | 5.535*** (0.345) | 5.564*** (0.178) | 5.479*** (0.230) | 5.717*** (0.156) |
| Observations | 44780 | 28816 | 15964 | 38701 | 235 | 5844 | 7091 | 37689 | 13068 | 33347 |
| R2 | 0.929 | 0.995 | 0.850 | 0.938 | 0.873 | 0.810 | 0.846 | 0.933 | 0.884 | 0.924 |
| Sample | Sub-industry | Business size | Time | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Variable | (1) | (2) textile | (3) Garment | (4) Private | (5) State | (6) | (7) Large | (8) Small and medium | (9) T = six years | (10) T ≥ three years |
| Ln(K/L) | 0.032 | −0.003 | 0.085 | 0.027 | 0.170 | 0.101 | 0.055 | 0.030 | 0.039 | 0.032 |
| Ln(L) | −0.927 | −0.996 | −0.840 | −0.939 | −0.841 | −0.724 | −0.789 | −0.935 | −0.880 | −0.921 |
| Ln( | 0.027 | 0.007 | 0.054 | 0.025 | −0.011 (0.034) | 0.072 | 0.035 | 0.027 | 0.037 | 0.027 |
| Ln( | 0.012 | 0.001 (0.001) | 0.022 | 0.011 | −0.065 (0.060) | 0.018 | 0.027 | 0.011 | 0.013 | 0.011 |
| Ln( | 0.896 | 0.992 | 0.789 | 0.907 | 0.861 | 0.746 | 0.808 | 0.901 | 0.832 | 0.890 |
| Ln( | 0.084 | −0.436 | 0.625 | 0.048 (0.038) | −0.266 (0.241) | 0.290 | 0.045 (0.072) | 0.129 | 0.157 | 0.099 |
| Constant | 5.759 | 8.256 | 3.046 | 5.930 | 7.804 | 4.052 | 5.535 | 5.564 | 5.479 | 5.717 |
| Observations | 44780 | 28816 | 15964 | 38701 | 235 | 5844 | 7091 | 37689 | 13068 | 33347 |
| 0.929 | 0.995 | 0.850 | 0.938 | 0.873 | 0.810 | 0.846 | 0.933 | 0.884 | 0.924 | |
Firm-based clustered standard errors are within standard errors; *p < 0.1, **p < 0.05, ***p < 0.01
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