Variables

maximum likelihood of the Tobit model

Bootstrap by Simar and Wilson (2007)

Approach1

Approach2

Approach1

Approach2

Corr

−0.341***

(−2.84)

−

−0.295***

(−2.67)

−

Efgour

−0.188***

(−2.87)

−

−0.245***

(−3.6)

−

Salmoy

5.99e−08***

(4.05)

3.44e−08***

(2.95)

6.47e−08***

(4.3)

4.17e−08***

(3.82)

Depinv

0.008***

(3.46)

0.007***

(3.32)

0.006***

(2.84)

0.005***

(2.84)

Voixresp

0.087**

(2.11)

0.124***

(2.72)

0.115***

(2.81)

0.145***

(3.31)

Tpop

−0.250***

(−6.96)

−0.205***

(−5.36)

−0.273***

(−7.44)

−0.240***

(−6.02)

Corr*Salmoy

7.02e−08**

(2.32)

1.22e−08

(0.68)

6.41e−08**

(2.14)

1.62e−08

(0.92)

Corr2

−

0.154*

(1.70)

−

0.161*

(1.78)

Efgour2

−

0.132***

(2,84)

−

0.180***

(3,24)

Constant

1.075***

(10.89)

1.123***

(11.09)

1.159***

(13.47)

1.231***

(13.23)