Dependent variable

Management Practices

Competition

X_1a

0.0463

(0.0848)

X_1b

0.2912***

(0.0656)

ownership

X₂

−0.0447

(0.0971)

Firm age

X₃

0.0034

(0.0613)

Managers’ degree

X₄

0.0223**

(0.0099)

Employees’ degree

X₅

0.1549**

(0.0640)

Managers’ working hours

X₆

0.0259***

(0.0080)

Managers’ Payment

X₇

0.0622

(0.0731)

constant

1.5596**

(0.6894)

F

6.93***

R-squared

0.2206

Adj R-squared

0.1887

VIF

1.14

Omitted Variables Test

0.19

(Prob > F = 0.9012)

Heteroskedasticity test

0.58

(Prob > chi2 = 0.4458)