Firm-size quintiles

Exports-ratio

1

2

3

4

5

All

(5)-(1)

Smallest (1)

3.325

4.872

6.007

10.900

16.668

8.932

13.342^***

(3.379)

(5.325)

(5.638)

(11.249)

(16.690)

6.585

[11.734]

2

3.799

3.425

6.212

9.506

15.938

8.204

12.121^***

(3.564)

(3.767)

(6.294)

(9.836)

(16.263)

4.985

[10.336]

3

2.515

3.802

4.688

9.049

15.987

6.69

13.559^***

(2.376)

(3.257)

(4.634)

(9.086)

(16.236)

3.57

[12.266]

4

3.387

4.211

6.248

11.532

12.798

7.326

9.406^***

(2.908)

(4.294)

(6.360)

(11.561)

(12.578)

3.89

[7.246]

Largest (5)

4.418

3.351

5.232

12.962

20.639

9.148

16.218^***

(4.265)

(3.002)

(5.442

(12.846)

(21.604)

4.69

[11.988]

All

3.491

3.930

5.679

10.791

16.399

8.061

12.890^***

(0.515)

(1.240)

(3.140)

(9.055)

(16.000)

4.535

[23.192]

[5]-[1]

1.038

−1.517

−0.766

2.172

3.960***

0.982

[t-statistic]

[1.182]

[−1.427]

[−0.805]

[1.539]

2.587

1.506