Table 3 Determinants of optimum firm... | Emerald Publishing

Table 3

Determinants of optimum firm size – 2017

	Marginal effects (dy/dx)	z-stat
Subcontracting with domestic firms	0.028***	7.90
Subcontracting with foreign firms	0.045***	6.96
Sex	0.005**	2.05
Age	0.009***	10.14
Age squared	−0.000***	−7.97
Manager education level^†
Bachelor’s degree	−0.037***	−4.66
College degree or less	−0.081***	−10.32
Short-term education	−0.094***	−11.82
No certificates	−0.093***	−11.74
Other	−0.052***	−6.04
Judiciary system	0.011***	7.73
Ln(district population)	−0.002	−1.52
No. of obs	53,754
Pseudo R²	0.059
LR	1,446
Prob > χ²	0.000

	Marginal effects (dy/dx)	z-stat
Subcontracting with domestic firms	0.028***	7.90
Subcontracting with foreign firms	0.045***	6.96
Sex	0.005**	2.05
Age	0.009***	10.14
Age squared	−0.000***	−7.97
Manager education level^†
Bachelor’s degree	−0.037***	−4.66
College degree or less	−0.081***	−10.32
Short-term education	−0.094***	−11.82
No certificates	−0.093***	−11.74
Other	−0.052***	−6.04
Judiciary system	0.011***	7.73
Ln(district population)	−0.002	−1.52
No. of obs	53,754
Pseudo R²	0.059
LR	1,446
Prob > χ²	0.000

Note(s): ^†Obtaining master’s degree or higher is the reference group

t statistics in parentheses

*p < 0.10, **p < 0.05 and ***p < 0.010

Source(s): Authors’ estimation using EC 2017