Table 8
Plant size, nationality and factors leading to ownership changes, third and fourth quartiles

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Plant size, nationality and factors leading to ownership changes, third and fourth quartiles: Part 1
	Third quartile				Fourth quartile
	Probit coefficients		Marginal effects		Probit coefficients		Marginal effects
	coefficient	standard error	coefficient	standard error	coefficient	standard error	coefficient	standard error
Variables
Foreign binary variable	1.88795 ^**	0.14790	0.35454 ^**	0.05491	1.75392 ^**	0.11700	0.43822 ^**	0.04609
Plant size	0.11680 ^**	0.01187	0.00391 ^**	0.00040	0.01098 ^**	0.00086	0.00083 ^**	0.00007
Plant knowledge intensity	0.18973 ^**	0.01532	0.00635 ^**	0.00051	0.09120 ^**	0.01369	0.00690 ^**	0.00103
Plant age	-0.00312 ^†	0.00177	-0.00010 ^†	0.00006	0.00005	0.00147	4.12E-06	0.00011
Plant age for older plants	-0.00230 ^†	0.00133	-0.00008 ^†	0.00004	0.00200 ^†	0.00110	0.00015 ^†	0.00008
Plant number of products	0.00858	0.00633	0.00029	0.00021	0.00063	0.00404	0.00005	0.00031
Unrelated plant binary variable	0.44924 ^**	0.03811	0.02411 ^**	0.00301	0.35340 ^**	0.02638	0.03519 ^**	0.00331
Change in plant size	11.88453 ^**	5.20487	0.39773 ^*	0.17425	1.88584	2.88270	0.14274	0.21819
Change in plant knowledge intensity	0.12298 ^**	0.02312	0.00412 ^**	0.00077	0.09645 ^**	0.01909	0.00730 ^**	0.00144
Change in plant wage rate	-0.01220	0.06792	-0.00041	0.00227	0.00050	0.05700	0.00004	0.00431
Change in plant profit rate	0.00256	0.00335	0.00009	0.00011	-0.00136	0.00315	-0.00010	0.00024
Number of plants in industry	-0.00024	0.00002	-0.00001 ^**	8.13E-07	-0.00010 ^**	0.00001	-0.00001 ^**	1.87E-07
Relative industry plant size	0.00671	0.00509	0.00022	0.00017	0.00163	0.00572	0.00012	0.00043
Relative industry knowledge intensity	0.05759 ^†	0.03231	0.00193 ^†	0.00108	0.08824 ^**	0.02812	0.00668 ^**	0.00212
Relative industry wage rate	0.53815 ^**	0.07180	0.01801 ^**	0.00240	0.29519 ^**	0.06154	0.02234 ^**	0.00465
Relative industry profit rate	0.58620 ^**	0.07314	0.01962 ^**	0.00244	0.46904 ^**	0.06494	0.03550 ^**	0.00488
Foreign binary variable interacted with
Plant size	-0.09532 ^**	0.02068	-0.00179	0.00180	-0.01216 ^**	0.00144	-0.00098 ^**	0.00016
Plant knowledge intensity	-0.07907 ^**	0.03102	-0.00458 ^†	0.00270	-0.06089 ^*	0.02434	-0.00299	0.00279
Plant age	0.00704 ^*	0.00316	0.00049 ^†	0.00027	-0.00108	0.00247	-0.00014	0.00029
Plant age for older plants	0.00678 ^**	0.00256	0.00052 ^*	0.00022	-0.00104	0.00190	-0.00003	0.00022
Plant number of products	0.00336	0.01161	0.00089	0.00099	0.00570	0.00678	0.00077	0.00077
Unrelated plant binary variable	-0.28919 ^**	0.05604	-0.00697	0.00562	-0.19942 ^**	0.03862	-0.01401 ^**	0.00529
Change in plant size	-31.31593 ^**	8.77957	-2.31645 ^**	0.72033	-5.48055	4.39047	-0.60635	0.47979
Change in plant knowledge intensity	-0.06084	0.04847	-0.00202	0.00428	-0.07392 ^†	0.03925	-0.00440	0.00465
Change in plant wage rate	-0.13929	0.13858	-0.01455	0.01214	-0.04564	0.10653	-0.00586	0.01239
Change in plant profit rate	-0.00315	0.00679	-0.00014	0.00059	-0.00160	0.00362	-0.00029	0.00033
Relative industry plant size	-0.01074	0.00810	-0.00062	0.00065	-0.00644	0.00838	-0.00074	0.00091
Relative industry knowledge intensity	-0.08490	0.05695	-0.00462	0.00498	-0.03874	0.04516	-0.00030	0.00516
Relative industry wage rate	-0.72268 ^**	0.11460	-0.03623 ^**	0.00951	-0.67484 ^**	0.09175	-0.07131 ^**	0.01032
Relative industry profit rate	-0.59483 ^**	0.12903	-0.02047 ^†	0.01098	-0.71520 ^**	0.10201	-0.06725 ^**	0.01146
Net marginal effect on being foreign	…	…	0.03435 ^**	0.00201	…	…	0.03231 ^**	0.00187

Plant size, nationality and factors leading to ownership changes, third and fourth quartiles: Part 2
	Third quartile	Fourth quartile
Diagnostic statistics
Number of observations	103,633	102,025
R-squared	0.0973	0.0442

<0.05

<0.01

†

<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 8Plant size, nationality and factors leading to ownership changes, third and fourth quartiles

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Table 8
Plant size, nationality and factors leading to ownership changes, third and fourth quartiles