Table A2. Definition and descriptive... | Emerald Publishing

Table A2.

Definition and descriptive statistics for variables used in TFP estimation and its determinants

Variables	Definition	Obs.	Mean	SD
Y	Gross revenues from sales	36,061	6,831,927	3.33e + 07
L	Number of legally registered employees	36,061	64	397
K	Net tangible assets	36,061	2,052,403	1.26e + 07
M	Total intermediate inputs	36,061	3,358,302	1.93e + 07
y	ln (total revenues from sales). This variable is deflated using the industry-specific price index obtained from the Ecuadorian National Institute of Statistics	36,061	13.454	2.111
l	ln (number of legally registered employees)	36,061	2.695	1.542
k	ln (net tangible assets). It is the sum of the real dollar value of buildings, machinery and vehicles, assuming a depreciation of 5%, 10% and 20%. I measure the capital stock with the gross investment in equipment in year t (I_it), net fixed assets in real value (physical capital in year t − 1) (k_it₋₁), a depreciation rate (d_it) and the price index for equipment at the industry level (P_t) obtained from the Ecuadorian National Institute of Statistics	36,061	11.474	2.815
m	ln (intermediate inputs). This variable is deflated using the industry-specific price index obtained from the Ecuadorian National Institute of Statistics	36,061	11.591	2.978
age	ln (firm age). Measured as the difference between the current year and the year the firm registered to start a business in the Ecuadorian mercantile register	36,061	2.295	1.076
FF	Dummy variable equal to one if the firm is a FF at time t, zero otherwise	35,308	0.879	0.325
ExpOnly	Dummy variable equal to one if the firm exports but does not import at time t, zero otherwise	36,061	0.060	0.237
ImpOnly	Dummy variable equal to one if the firm imports but does not export at time t, zero otherwise	36,061	0.149	0.356
Trader	Dummy variable equal to one if the firm exports and imports at time t, zero otherwise	36,061	0.085	0.279
FDI	Dummy variable equal to one if the firm receives FDI at time t, zero otherwise	36,061	0.028	0.166
dte	ln ([Total liabilities/Equity] + 1)	33,757	1.306	1.034
credit	Dummy variable equal to one if the firm receives a credit from any financial institution at time t, zero otherwise	36,061	0.361	0.480
HHI	ln (HHI of industrial concentration [by two-digit ISIC])	36,061	−2.702	0.736

Variables	Definition	Obs.	Mean	SD
Y	Gross revenues from sales	36,061	6,831,927	3.33e + 07
L	Number of legally registered employees	36,061	64	397
K	Net tangible assets	36,061	2,052,403	1.26e + 07
M	Total intermediate inputs	36,061	3,358,302	1.93e + 07
y	ln (total revenues from sales). This variable is deflated using the industry-specific price index obtained from the Ecuadorian National Institute of Statistics	36,061	13.454	2.111
l	ln (number of legally registered employees)	36,061	2.695	1.542
k	ln (net tangible assets). It is the sum of the real dollar value of buildings, machinery and vehicles, assuming a depreciation of 5%, 10% and 20%. I measure the capital stock with the gross investment in equipment in year t (I_it), net fixed assets in real value (physical capital in year t − 1) (k_it₋₁), a depreciation rate (d_it) and the price index for equipment at the industry level (P_t) obtained from the Ecuadorian National Institute of Statistics	36,061	11.474	2.815
m	ln (intermediate inputs). This variable is deflated using the industry-specific price index obtained from the Ecuadorian National Institute of Statistics	36,061	11.591	2.978
age	ln (firm age). Measured as the difference between the current year and the year the firm registered to start a business in the Ecuadorian mercantile register	36,061	2.295	1.076
FF	Dummy variable equal to one if the firm is a FF at time t, zero otherwise	35,308	0.879	0.325
ExpOnly	Dummy variable equal to one if the firm exports but does not import at time t, zero otherwise	36,061	0.060	0.237
ImpOnly	Dummy variable equal to one if the firm imports but does not export at time t, zero otherwise	36,061	0.149	0.356
Trader	Dummy variable equal to one if the firm exports and imports at time t, zero otherwise	36,061	0.085	0.279
FDI	Dummy variable equal to one if the firm receives FDI at time t, zero otherwise	36,061	0.028	0.166
dte	ln ([Total liabilities/Equity] + 1)	33,757	1.306	1.034
credit	Dummy variable equal to one if the firm receives a credit from any financial institution at time t, zero otherwise	36,061	0.361	0.480
HHI	ln (HHI of industrial concentration [by two-digitISIC])	36,061	−2.702	0.736

Source: Authors, based on data provided by SCVS