Variables

US-UK firms (Management = 0.1776 units)

Model1

Model2

Model3

Coef

S.E.

Perc

Coef

S.E.

Perc

Coef

S.E.

Perc

managers’ degree

0.0409***

0.0146

14.80%

0.02674*

0.0143

15.06%

0.0289*

0.0129

16.27%

employees’ degree

0.1411***

0.0466

79.45%

0.1176***

0.0430

66.22%

competition

−0.1434***

0.0388

-

Total

0.0409***

0.0146

14.80%

0.1678***

0.0455

94.51%

0.0031

0.0613

-