Table 4

Explaining EOC levels for ambitions to hire at least 1 employee

(1)(2)(3)
Cat2−0.185 (0.274)−0.192 (0.258)−0.3 (0.176)*
Cat30.011 (0.151)0.011 (0.15)−0.124 (0.108)
Cat4−0.076 (0.154)−0.076 (0.152)−0.206 (0.118)*
Cat5−0.14 (0.167)−0.142 (0.163)−0.263 (0.129)**
Collectivism-Individualism−0.213 (0.23)−0.209 (0.223)−0.117 (0.184)
Duty-Joy0.386 (0.175)**0.39 (0.164)**0.401 (0.15)**
Distrust-Trust−0.762 (0.251)***−0.761 (0.248)***−0.747 (0.194)***
GDP growth1.325 (2.082)1.32 (2.058)0.899 (1.187)
Labour Market Regulations−0.226 (0.305)−0.225 (0.301)−0.373 (0.243)
Labour Force Education0.035 (0.468)  
constant1.455 (0.419)***1.478 (0.284)***1.651 (0.224)***
No. of observations565671
R20.41940.41930.3736

Note(s): Three regression models were run using EOC1+ as the dependent variable, including Labour Force Education in Model 1 and excluding it in Models 2 and 3. Excluding this variables gave a larger sample size. This model is run with the same number of observations as in Model 1 for robustness to show that the main results are unaffected by a different sample size. Higher values of culture variables indicate higher levels of Individualism, Joy and Trust respectively. * if p < 0.10, ** if p < 0.05, *** if p < 0.01. Standard errors in parentheses

Source(s): Created by author

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