Table 3 Effects of outsourcing...

Table 3

Effects of outsourcing participation on TFP

Variables	OLS (1)	FE (2)	FE, Driscoll Kraay (3)
Dummy_outsourcing	−0.023**	0.016	0.022***
Dummy_outsourcing	(0.010)	(0.011)	(0.004)
Firm age	−0.001	0.001***	0.001*
Firm age	(0.001)	(0.001)	(0.001)
Firm size	−0.001	0.012***	−0.008***
Firm size	(0.001)	(0.004)	(0.003)
Capital structure	0.041***	0.034***	0.029***
Capital structure	(0.0110)	(0.013)	(0.010)
Dummy_innovation	0.021***	0.006	−0.009***
Dummy_innovation	(0.005)	(0.006)	(0.002)
Constant	1.422***	1.233***	1.409***
Constant	(0.020)	(0.049)	(0.057)
Year dummies	N	N	Y
Industry dummies	N	N	Y
Observations	12,939	12,939	12,939
R-squared	0.003	0.005
Number of groups	4,549	4,549	4,549

Variables	OLS (1)	FE (2)	FE, Driscoll Kraay (3)
Dummy_outsourcing	−0.023**	0.016	0.022***
Dummy_outsourcing	(0.010)	(0.011)	(0.004)
Firm age	−0.001	0.001***	0.001*
Firm age	(0.001)	(0.001)	(0.001)
Firm size	−0.001	0.012***	−0.008***
Firm size	(0.001)	(0.004)	(0.003)
Capital structure	0.041***	0.034***	0.029***
Capital structure	(0.0110)	(0.013)	(0.010)
Dummy_innovation	0.021***	0.006	−0.009***
Dummy_innovation	(0.005)	(0.006)	(0.002)
Constant	1.422***	1.233***	1.409***
Constant	(0.020)	(0.049)	(0.057)
Year dummies	N	N	Y
Industry dummies	N	N	Y
Observations	12,939	12,939	12,939
R-squared	0.003	0.005
Number of groups	4,549	4,549	4,549

Note(s): (1) Robust t-statistics in parentheses; (2)*p < 0.1; **p < 0.05; ***p < 0.01

For definitions of the variables, please refer to Table 1

Source(s): Authors’ calculations from STATA software

Sharing Unavailable