Variables

Equation (1)

Co-efficients

t-values

Constant

−0.745^***

−2.804

logK_it

0.101

1.244

logL_it

0.525^***

4.399

logM_it

0.679^***

9.449

t_it

0.105^***

2.676

0.5(logK_it)²

−0.079^***

−4.695

0.5(logL_it)²

−0.086^**

−2.551

0.5(logM_it)²

0.069^***

4.144

−0.014^**

−2.237

(logK_it)(logL_it)

0.069^***

3.420

(logK_it)(logM_it)

−0.020

−1.448

(logK_it)t_it

−0.014^**

−2.222

(logL_it)(logM_it)

−0.027^*

−1.719

(logL_it)t_it

0.002

0.252

(logM_it)t_it

0.007

1.222

Inefficiency model

Constant

−8.318^***

−3.756

t_it

0.409^***

3.480

TD

−0.170

−0.611

KIMPINT

−1.694^***

−14.294

IMPINT

1.604^***

5.645

TECHIMP

−7.812^***

−2.694

RNDINT

1.232^***

3.851

LSALES

−0.652^***

−90.247

FOR

−3.411^***

−3.361

PUB

0.268^***

9.867

Sigma-squared

1.944^***

4.460

Gamma

0.972^***

124.687

Log-likelihood

−260.298