Variable

Modl. 1

Modl. 2

Modl. 3

Modl. 4

Mol. 5

Mod.6

Modl.7

Modl.8

size

0.541***

0.543***

0.536***

0.539***

0.547***

0.548***

0.541***

0.544***

(0.0521)

(0.0522)

(0.0554)

(0.0556)

(0.0513)

(0.0516)

(0.0549)

(0.0552)

prf

2.071***

2.085***

1.892***

1.918***

2.172***

2.177***

1.977***

1.997***

(0.424)

(0.421)

(0.463)

(0.460)

(0.420)

(0.417)

(0.460)

(0.456)

lr

0.268**

0.242*

0.290**

0.277*

0.269**

0.243*

0.292**

0.278*

(0.124)

(0.125)

(0.142)

(0.143)

(0.124)

(0.125)

(0.143)

(0.144)

age

0.0936***

0.0938***

0.0891***

0.0928***

0.0891***

0.0896***

0.0855***

0.0888***

(0.0120)

(0.0094)

(0.0122)

(0.0096)

(0.0119)

(0.0092)

(0.0122)

(0.0096)

nat

0.0532

0.0589

0.113

0.119

0.0499

0.0556

0.109

0.115

(0.127)

(0.125)

(0.117)

(0.115)

(0.128)

(0.125)

(0.118)

(0.116)

fin

−0.0083***

−0.0085***

−0.0079**

−0.0081**

−0.0071**

−0.0075**

−0.0072**

−0.0075**

(0.0030)

(0.0030)

(0.0034)

(0.0034)

(0.0030)

(0.0030)

(0.0034)

(0.0034)

apr

2.430***

2.281***

2.238***

2.084***

(0.746)

(0.734)

(0.717)

(0.702)

num

−0.145***

−0.125***

−0.103**

−0.0857*

(0.0439)

(0.0434)

(0.0486)

(0.0483)

gbu

0.0279***

0.0273***

0.0273***

0.0268***

(0.0069)

(0.0069)

(0.0068)

(0.0068)

pgb

0.0124*

0.0115*

0.0124*

0.0116*

(0.0066)

(0.0066)

(0.0066)

(0.0065)

mar

0.0023

0.0108

0.0023

0.0089

(0.0270)

(0.0278)

(0.0271)

(0.0278)

gam

−0.0729***

−0.0709***

−0.0700***

−0.0700***

(0.0169)

(0.0170)

(0.0170)

(0.0171)

Const.

−0.447*

0.0885*

−0.326*

0.190**

1.127**

1.442**

0.846**

1.176**

(0.551)

(0.557)

(0.596)

(0.596)

(0.688)

(0.697)

(0.762)

(0.766)

N

7488

7488

7018

7018

7488

7488

7018

7018

R²

0.294

0.298

0.265

0.269

0.294

0.298

0.265

0.268

N

1881

1881

1845

1845

1881

1881

1845

1845

Indu. fixed

YES

YES

YES

YES

YES

YES

YES

YES

Year fixed

YES

YES

YES

YES

YES

YES

YES

YES