Table 5
Differences in factors leading to ownership changes across plant-size classes

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Differences in factors leading to ownership changes across plant-size classes: Part 1
	First quartile		Second quartile		Third quartile		Fourth quartile		Total
	coefficient	standard error	coefficient	standard error	coefficient	standard error	coefficient	standard error	coefficient	standard error
Variables
Foreign binary variable	0.00890 ^**	0.00124	0.01192 ^**	0.00131	0.01086 ^**	0.00131	0.01513 ^**	0.00169	0.01308 ^**	0.00069
Plant size	0.00318 ^**	0.00043	0.00364 ^**	0.00048	0.00380 ^**	0.00042	0.00048 ^**	0.00005	0.00041 ^**	0.00002
Plant knowledge intensity	0.00220 ^**	0.00019	0.00407 ^**	0.00033	0.00734 ^**	0.00053	0.00717 ^**	0.00100	0.00841 ^**	0.00024
Plant number of products	0.00034 ^**	0.00014	0.00041 ^*	0.00017	0.00041 ^†	0.00022	0.00044	0.00029	0.00077 ^**	0.00009
Plant age	-0.00005 ^†	0.00002	-0.00013 ^**	0.00004	-0.00002	0.00006	0.00006	0.00011	0.00029 ^**	0.00003
Plant age for older plants	-0.00001	0.00002	0.00003	0.00003	-5.81E-06	0.00005	0.00022 ^**	0.00008	0.00030 ^**	0.00002
Unrelated plant binary variable	0.00912 ^**	0.00162	0.01145 ^**	0.00176	0.01995 ^**	0.00215	0.03157 ^**	0.00249	0.02000 ^**	0.00105
Change in plant size	0.15140	0.09744	0.26516 ^†	0.13741	0.05001	0.17164	0.00832	0.19361	0.06181	0.07113
Change in plant knowledge intensity	0.00100 ^**	0.00026	0.00207 ^**	0.00051	0.00452 ^**	0.00083	0.00758 ^**	0.00146	0.00470 ^**	0.00039
Change in plant wage rate	-0.00067	0.00065	-0.00268 ^†	0.00142	-0.00200	0.00241	-0.00140	0.00426	-0.00190 ^†	0.00104
Change in plant profit rate	-0.00001	0.00002	-8.74E-07	0.00006	0.00006	0.00011	-0.00023 ^†	0.00014	-0.00004	0.00003
Number of plants in industry	-1.77E-06 ^**	3.38E-07	-6.10E-06 ^**	6.23E-07	-0.00001 ^**	8.98E-07	-9.67E-06 ^**	1.23E-06	-6.10E-06 ^**	3.76E-07
Relative industry plant size	0.00011 ^**	0.00004	0.00031 ^**	0.00008	0.00011	0.00016	-0.00007	0.00037	0.00027 ^**	0.00007
Relative industry knowledge intensity	0.00156 ^**	0.00040	0.00172 ^*	0.00070	0.00192 ^†	0.00116	0.00747 ^**	0.00208	0.00244 ^**	0.00056
Relative industry wage rate	0.00442 ^**	0.00082	0.00519 ^**	0.00146	0.01213 ^**	0.00239	0.00590	0.00445	0.00792 ^**	0.00116
Relative industry profit rate	0.00220 ^**	0.00088	0.00706 ^**	0.00154	0.01560 ^**	0.00254	0.01661 ^**	0.00465	0.00895 ^**	0.00123

Differences in factors leading to ownership changes across plant-size classes: Part 2
	First quartile	Second quartile	Third quartile	Fourth quartile	Total
Diagnostic statistics
Number of observations	108,006	102,785	104,120	104,194	416,449
Pseudo R-squared	0.1808	0.1316	0.0944	0.0363	0.1009

p<0.05

p<0.01

†

p<0.10

Note(s):

Results on constant, industry and year dummies are not reported because of space limitations. Some of the numbers in this table are followed by the letter E, which stands for exponent, a plus sign or a minus sign, and two digits that indicate the power of 10 by which the number is multiplied. This is a way to write numbers that accommodate values too large or too small to be conveniently written in decimal notation.

Table 5Differences in factors leading to ownership changes across plant-size classes

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Table 5
Differences in factors leading to ownership changes across plant-size classes