Table V. Firm heterogeneity estimation...

Table V.

Firm heterogeneity estimation results

Variable	MQI (logs) (1)	TFP (logs) (2)	MQI (logs) (3)	TFP (logs) (4)
Exporter	0.300*** (0.022)	0.120*** (0.022)	0.109*** (0.028)	0.042 (0.033)
Multinational	0.434*** (0.030)	0.174*** (0.034)	0.094*** (0.036)	0.093* (0.055)
Medium	0.312*** (0.025)	0.057** (0.028)	0.155** (0.076)	0.303*** (0.113)
Large	0.550*** (0.030)	0.084*** (0.032)	0.203* (0.109)	0.265* (0.149)
Foreign ownership	0.049** (0.025)	0.044 (0.032)	−0.087* (0.053)	0.027 (0.119)
Industry dummies	Yes	Yes	No	No
Firm fixed effects	No	No	Yes	Yes
No. of firms	2.468	2.155	348	348
F-test exporter = multinational	0.000	0.043	0.581	0.251

Variable	MQI (logs) (1)	TFP (logs) (2)	MQI (logs) (3)	TFP (logs) (4)
Exporter	0.300*** (0.022)	0.120*** (0.022)	0.109*** (0.028)	0.042 (0.033)
Multinational	0.434*** (0.030)	0.174*** (0.034)	0.094*** (0.036)	0.093* (0.055)
Medium	0.312*** (0.025)	0.057** (0.028)	0.155** (0.076)	0.303*** (0.113)
Large	0.550*** (0.030)	0.084*** (0.032)	0.203* (0.109)	0.265* (0.149)
Foreign ownership	0.049** (0.025)	0.044 (0.032)	−0.087* (0.053)	0.027 (0.119)
Industry dummies	Yes	Yes	No	No
Firm fixed effects	No	No	Yes	Yes
No. of firms	2.468	2.155	348	348
F-test exporter = multinational	0.000	0.043	0.581	0.251

Notes:

In equations (1) and (2), we have controlled manufacturing industry to two digits. Robust standard errors (clustered by firm) are given in parentheses; *, ** and *** denote significance at the 10, 5 and 1 per cent levels, respectively. In the last row, we include the p-value obtained from the F-equality test

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