Table 5

Labor productivity and knowledge spillovers

Micro firms <10 employeesSmall-market share firmsHigh-market share firms
VA/L lagged0.6316***0.5660***0.6572***
 (0.0014)(0.0051)(0.0051)
Employee no IA0.3289***0.3467***0.2858***
 (0.0014)(0.0053)(0.0049)
R&D knowledge spillover
Micro firms−0.5790***−0.9183**−1.1684***
 (0.0157)(0.3216)(0.1473)
Small-market-share firms1.4078***2.0431***1.3127***
 (0.0379)(0.1225)(0.0795)
Large-market-share firms0.0164***−0.0054**0.0051***
 (0.0014)(0.0018)(0.0012)
OC knowledge spillover
Micro firms−0.0862***1.0931*0.0157
 (0.0106)(0.4732)(0.0707)
Small-market-share firms0.9664***0.5989***0.5369***
 (0.0439)(0.0955)(0.0884)
Large-market-share firms0.0745***−0.0709***0.0483***
 (0.0054)(0.0147)(0.0105)
Initial R&D-IBTC0.1063***0.3464***0.3077***
 (0.0047)(0.0201)(0.0286)
Initial OC-IBTC0.2104***0.7328***0.6793***
 (0.0073)(0.0368)(0.0274)
R&D asset0.0183***0.0155***0.0116***
 (0.0001)(0.0002)(0.0003)
OC asset0.0151***0.0088***0.0137***
 (0.0001)(0.0003)(0.0004)
K/L0.0173***0.0165***0.0208***
 (0.0002)(0.0008)(0.0010)
K/L lagged−0.0082***−0.0107***−0.0137***
 (0.0002)(0.0008)(0.0010)
Long-term multiplier2.712.32.92
Observations1,146,978106880101581
R squared0.8250.7790.909

Note(s): All except dummy variables are in logs. Dummies cover 33 NACE 2-digit industries, regions and years. p-values: *p < 0.05, **p < 0.01, ***p < 0.001

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