Table 1 CEM model – acquired firms... | Emerald Publishing

Table 1

CEM model – acquired firms

Activities = 1	(1)	(2)	(3)	(4)
I(Acquired) × I(Post) × I(Overlap)	−0.038	−0.041**	−0.028	−0.030
I(Acquired) × I(Post) × I(Overlap)	(0.061)	(0.018)	(0.022)	(0.019)
I(Acquired) × I(Post)	0.985***	0.971**	0.977***	0.962***
I(Acquired) × I(Post)	(0.058)	(0.011)	(0.020)	(0.015)
I(Acquired) × I(Overlap)	0.038**	0.039*	0.009	0.010
I(Acquired) × I(Overlap)	(0.019)	(0.019)	(0.023)	(0.019)
I(Acquired)	−0.100***	−0.099***	−0.089***	−0.088***
I(Acquired)	(0.017)	(0.011)	(0.022)	(0.010)
Fixed effects
Year		X		X
Municipality			X	X
Obs.	799,765	799,765	799,765	799,765
t	17	17	17	17
i	47,065	47,065	47,065	47,065

Activities = 1	(1)	(2)	(3)	(4)
I(Acquired) × I(Post) × I(Overlap)	−0.038	−0.041**	−0.028	−0.030
I(Acquired) × I(Post) × I(Overlap)	(0.061)	(0.018)	(0.022)	(0.019)
I(Acquired) × I(Post)	0.985***	0.971**	0.977***	0.962***
I(Acquired) × I(Post)	(0.058)	(0.011)	(0.020)	(0.015)
I(Acquired) × I(Overlap)	0.038**	0.039*	0.009	0.010
I(Acquired) × I(Overlap)	(0.019)	(0.019)	(0.023)	(0.019)
I(Acquired)	−0.100***	−0.099***	−0.089***	−0.088***
I(Acquired)	(0.017)	(0.011)	(0.022)	(0.010)
Fixed effects
Year		X		X
Municipality			X	X
Obs.	799,765	799,765	799,765	799,765
t	17	17	17	17
i	47,065	47,065	47,065	47,065

Note(s): ***p < 0.01; **p < 0.05; *p < 0.1. Values in parentheses are heteroskedasticity-robust standard errors, two-way clustered by municipality and year

Source(s): Table by authors