Variable

Mean⁺

Self-protection (a)

No self-protection (b)

Mean difference⁺⁺ (b-a)

Firm characteristics

Retailers (%)

0.2357

0.2478

0.2260

−0.0218

Service (%)

0.3859

0.4059

0.3698

−0.0361

Food and plastics (%

0.0817

0.1068

0.0616

−0.0451^*

Textile (%)

0.0931

0.0341

0.1404

0.1062^***

Other manufactures (%)

0.2015

0.2051

0.1986

−0.0064

Small (%)

0.6882

0.5470

0.8013

0.2543^***

Medium (%)

0.2319

0.2905

0.1849

−0.105^***

Large (%)

0.0799

0.1623

0.0136

−0.148^***

Sole proprietorship (%)

0.7186

0.5641

0.8424

0.2783^***

Domestic (%)

0.7129

0.6196

0.7876

0.1680^***

Foreign (%)

0.1596

0.2564

0.0821

−0.1742^***

Public (%)

0.1197

0.1154

0.1232

0.0079

Sales

2.23e+09

4.76e+09

2.07e+08

−4.55e+09^**

Profit

1.10e+09

2.40e+09

6.41e+07

−2.34e+09^***

Volume of investment

2.94e+07

5.63e+07

7859095

−4.84e+07^***

Located in export area (%)

0.1939

0.3247

0.0890

−0.2357^***

Manager’s characteristics

Higher Education (%)

0.2984

0.4230

0.1986

−0.2244^***

Secondary Education (%)

0.4334

0.3589

0.4931

0.1341^**

Primary Education (%)

0.1311

0.1068

0.1506

0.0438

No education

0.1026

0.0555

0.1404

0.0848^***

Manager’s experience (years)

12.129

14.341

10.356

−3.985^***

Crime and disorder

Crime a severe obstacle (%)

0.3269

0.3504

0.3082

−0.0422

Crime a major obstacle (%)

0.2224

0.3119

0.1506

−0.1612^***

Crime a moderate obstacle (%)

0.1254

0.1196

0.1301

0.0104

Crime a minor obstacle (%)

0.1996

0.1581

0.2328

0.0747^*

Victim of loss due to crime (%)

0.2509

0.3632

0.1609

−0.2023^***

Operating after beginning of civil (2002)

0.5855

0.4572

0.6883

0.2310^***

Operating after 2004 riots

0.4562

0.3162

0.5684

0.2522^***

Paying for security (%)

0.4448

-

-

-

Number of observations

526

234

292