Table A1 Drivers of labour efficiency...

Table A1

Drivers of labour efficiency

Year	Model	$α$	W*EFF	GIL	CMAN	AGL	QCT	EAI	PDOM	PFOR	GOV
Panel A: 2006 Results	1	−4.014***	0.075***	−0.501***	−0.276***	0.456**	1.840***	3.147***
	2	−5.560***	0.082***	−0.538***	−0.219***				4.506***	5.663***	5.550
	3	−9.220***	0.070***	−0.517***	−0.242***	0.354	1.831***	3.441***	5.525***	5.225***	5.058
Panel B: 2009 Results	1	−2.810***	0.034***	0.060	−0.281***	0.643**	0.361	1.151*
	2	−3.238***	0.034***	0.046	−0.270***				2.595**	4.146***	9.882**
	3	−5.424***	0.034***	0.038	−0.274***	0.721**	0.126	0.792	2.628**	3.940***	8.898**
Panel C: 2013 Results	1	−0.065	0.040***	−0.443**	−0.089*	−1.223***	2.814***	−1.360***
	2	−0.958	0.041***	−0.453***	−0.091*				−2.521*	0.909	−3.127
	3	1.550	0.039***	−0.480***	−0.095*	−1.157***	2.640***	−1.493***	−1.918	1.177	−2.482
Panel D: 2016 Results	1	−1.446	0.055***	0.630**	−0.198**	0.196	0.245	1.729**
	2	−0.998	0.056***	0.664**	−0.164*				1.140	0.981	5.691
	3	−2.336	0.054***	0.631**	−0.196**	0.166	0.252	1.753**	1.024	0.432	4.757
Panel E: 2019 Results	1	−0.511	0.009***	−0.064	0.056	−0.511*	0.629	0.410
	2	−0.543	0.008	−0.048	0.052				−1.208	0.873	8.608*
	3	0.348	0.008***	−0.063	0.055	−0.484*	0.506	0.304	−1.073	0.823	8.675**

Year	Model	$α$	W*EFF	GIL	CMAN	AGL	QCT	EAI	PDOM	PFOR	GOV
Panel A: 2006 Results	1	−4.014***	0.075***	−0.501***	−0.276***	0.456**	1.840***	3.147***
	2	−5.560***	0.082***	−0.538***	−0.219***				4.506***	5.663***	5.550
	3	−9.220***	0.070***	−0.517***	−0.242***	0.354	1.831***	3.441***	5.525***	5.225***	5.058
Panel B: 2009 Results	1	−2.810***	0.034***	0.060	−0.281***	0.643**	0.361	1.151*
	2	−3.238***	0.034***	0.046	−0.270***				2.595**	4.146***	9.882**
	3	−5.424***	0.034***	0.038	−0.274***	0.721**	0.126	0.792	2.628**	3.940***	8.898**
Panel C: 2013 Results	1	−0.065	0.040***	−0.443**	−0.089*	−1.223***	2.814***	−1.360***
	2	−0.958	0.041***	−0.453***	−0.091*				−2.521*	0.909	−3.127
	3	1.550	0.039***	−0.480***	−0.095*	−1.157***	2.640***	−1.493***	−1.918	1.177	−2.482
Panel D: 2016 Results	1	−1.446	0.055***	0.630**	−0.198**	0.196	0.245	1.729**
	2	−0.998	0.056***	0.664**	−0.164*				1.140	0.981	5.691
	3	−2.336	0.054***	0.631**	−0.196**	0.166	0.252	1.753**	1.024	0.432	4.757
Panel E: 2019 Results	1	−0.511	0.009***	−0.064	0.056	−0.511*	0.629	0.410
	2	−0.543	0.008	−0.048	0.052				−1.208	0.873	8.608*
	3	0.348	0.008***	−0.063	0.055	−0.484*	0.506	0.304	−1.073	0.823	8.675**

Note(s): The Table presents the results of estimating the equation

${EFF}_{i}^{j} = α_{0} + γ \sum_{i = 1}^{N} w_{j, i} {EFF}_{i} + β^{1} {CMAN}_{j} + β^{2} {QCT}_{j} + β^{3} {EAS}_{j} + β^{4} P D O M_{j} + β^{5} P F O R_{j} + β^{6} G O V_{j} + β^{7} {AGL}_{j} + β^{8} {GIL}_{j} + μ_{j} + ε_{j}$

$E F F = l a b o u r e f f i c i e n c y, Q C T = q u a l i t y c e r t i f i c a t i o n, C M A N = c r i m e m a n a g e m e n t, G I L = L o g o f g r a f t i n d e x A G L = \log o f f i r m^{'} s a g e, a = i n t e r c e p t,$

$E A S = E x t e r n a l a u d i t o r s e r v i c e s, γ = t h e s p a t i a l a u t o c o r r e l a t i o n c o e f f i c i e n t, μ = s p a t i a l s p e c i f i c e f f e c t s, G O V = g o v e r n m e n t o w n e r s h i p,$

$β = c o e f f i c i e n t s, P D O M = p r i v a t e d o m e s t i c o w n e r s h i p, P F O R = p r i v a t e f o r e i g n o w n e r s h i p, w_{j, i} = e l e m e n t o f t h e a d j a c e n c y m a t r i x W .$

***, ** and * are 1, 5 and 10% significant levels respectively

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