Years on the market | 0.0089 | 3.29 | 0.001 |
Employment | −0.0268 (0.0219) | −1.23 | 0.22 |
Sta_capital | −1.1087 | −2.32 | 0.02 |
For_capital | −0.1921 (0.1430) | −1.34 | 0.179 |
State_prod | 0.0211 (0.1075) | 0.2 | 0.845 |
Time_officials | 0.3673 | 2.94 | 0.003 |
Audits | 0.0089 (0.0047) | 1.88 | 0.06 |
Efficiency | 0.0216 | 2.86 | 0.004 |
Thefts | 3.4493 | 3.09 | 0.002 |
small_loc | −0.1215 (0.0819) | −1.48 | 0.138 |
medium_loc | −0.3331 | −3.93 | 0 |
large_loc | −0.3411 | −2.94 | 0.003 |
small_company | −0.0388 (0.0968) | −0.4 | 0.689 |
medium_company | −0.0402 (0.0920) | −0.44 | 0.662 |
_cons | 0.6286 | 2.5 | 0.012 |
Country Effect | TAK | ||
Industry effect | TAK | ||
Number of observations | 7486 | ||
F-Statistic | 948.15 | ||
Pseudo | 0.0940 | ||
0.0000 |
Other | 16.566 | 0.2715 | 0 | 1 |
Food products | 16.566 | 0.2587 | 0 | 1 |
Textiles | 16.566 | 0.1567 | 0 | 1 |
Clothing | 16.566 | 0.1876 | 0 | 1 |
Chemicals | 16.566 | 0.1516 | 0 | 1 |
Plastics and rubber | 16.566 | 0.1428 | 0 | 1 |
Mineral products | 16.566 | 0.1966 | 0 | 1 |
Metals and raw materials | 16.566 | 0.0739 | 0 | 1 |
Metal products | 16.566 | 0.2001 | 0 | 1 |
Machines and devices | 16.566 | 0.2360 | 0 | 1 |
Electronics | 16.566 | 0.1165 | 0 | 1 |
Construction | 16.566 | 0.2810 | 0 | 1 |
Wholesale | 16.566 | 0.3493 | 0 | 1 |
Retail | 16.566 | 0.4215 | 0 | 1 |
Hotels and restaurants | 16.566 | 0.2001 | 0 | 1 |
IT | 16.566 | 0.1351 | 0 | 1 |
Corruption | 15.904 | 0.4832 | 0 | 1 |
Years on the market | 16.566 | 12.0624 | 0 | 178 |
Employment | 15.039 | 1.3708 | 0 | 9.21034 |
Sta_capital | 16.566 | 0.0751 | 0 | 0.99 |
For_capital | 16.566 | 0.1959 | 0 | 1 |
State_prod | 16.566 | 0.2607 | 0 | 1 |
Time_officials | 16.566 | 0.2016 | 0 | 1 |
Audits | 8.496 | 5.3148 | 1 | 150 |
Efficiency | 15.039 | 3.5798 | 0 | 8.269244 |
Thefts | 16.566 | 0.0253 | 0 | 1 |
small_loc | 16.566 | 0.4401 | 0 | 1 |
medium_loc | 16.566 | 0.4942 | 0 | 1 |
large_loc | 16.566 | 0.3153 | 0 | 1 |
small_company | 16.566 | 0.4990 | 0 | 1 |
medium_company | 16.566 | 0.4772 | 0 | 1 |
large_company | 16.566 | 0.3213 | 0 | 1 |
Corruption | Corresponds to the percentage of the answer to the question ‘Is corruption an obstacle to business?’ |
Years on the market | The company’s existence on the market in years |
Employment | number of employees |
Sta_capital | State ownership in capital (%) |
For_capital | Foreign ownership in capital (%) |
state production | Percentage of production sold domestically |
Time_officials | Time spent on contacting government officials (% of work time) |
Audits | Number of state audits |
Efficiency | The ratio of sales to employees |
Thefts | Losses caused by theft (% of revenues) |
Investments | The level of investments in the country as% of GDP |
GDP per capita | GDP per capita calculated in % |
Years on the market | 0.00876502 | 0.00530975 |
Employment | −0.00008314 | −0.00004948 |
Sta_capital | −1.133988 | −0.62454681 |
For_capital | −0.197049 | −0.1253618 |
State_prod | 0.02541215 | 0.01607862 |
Time_officials | 0.36951254 | 0.22890388 |
Audits | 0.00907696 | 0.00543676 |
Efficiency | 0.02150128 | 0.01288578 |
Thefts | 3.4365243 | 1.8378906 |
Other | 0.03748113 | 0.02313259 |
Food products | −0.14439709 | −0.0845678 |
Textiles | 0.3521586 | 0.21495443 |
Clothing | 0.11952786 | 0.07476893 |
Chemicals | 0.52001581 | 0.31532122 |
Plastics and rubber | −0.03725552 | −0.01415368 |
Mineral products | 0.32495071 | 0.19949212 |
Metals and raw materials | −0.0577727 | −0.02944644 |
Metal products | 0.02482283 | 0.01903884 |
Machines and devices | 0.13714882 | 0.08354676 |
Electronics | 0.2596035 | 0.15581276 |
Construction | 0.3544781 | 0.22319262 |
Wholesale | 0.20622816 | 0.13128126 |
Retail | −0.0664786 | −0.03453299 |
Hotels and restaurants | −0.1737417 | −0.09251344 |
IT | 0.33941652 | 0.2147104 |
small_loc | −0.12165995 | −0.07618389 |
medium_loc | −0.33236935 | −0.2025015 |
large_loc | −0.33919617 | −0.20681956 |
small_company | −0.0014848 | 0.00030351 |
medium_company | −0.02023952 | −0.01255519 |
medium_company | −0.02023952 | −0.01255519 |
Bulgaria | –1.1978914 | −0.73944942 |
Albania | −1.1592144 | −0.71822055 |
Croatia | −1.1413132 | −0.70407362 |
Belarus | −2.0420131 | −1.2431616 |
Georgia | −2.6648174 | −1.5931303 |
Tajikistan | −1.4865773 | −0.9180442 |
Turkey | −1.2972634 | −0.80528348 |
Ukraine | −0.40252307 | −0.24803484 |
Uzbekistan | −3.5135959 | −2.0308543 |
Russia | −0.88202438 | −0.54765707 |
Romania | −0.13433538 | −0.08237083 |
Kazakhstan | −1.2451245 | −0.76820525 |
Bosnia_and_Herzegovina_Ha | −1.0461743 | −0.6461674 |
Azerbaijan | −3.0499892 | −1.792391 |
Macedonia | −1.8585547 | −1.1448237 |
Armenia | −1.8512206 | −1.1417558 |
Kyrgyzstan | 0.35124133 | 0.21087963 |
Estonia | −3.0235201 | −1.8171122 |
Czech Republic | −1.1688309 | −0.7194871 |
Italy | −2.2520163 | −1.3720082 |
Latvia | −1.9601472 | −1.2002027 |
Lithuania | −1.7678234 | −1.0833992 |
Slovakia | −0.99406504 | −0.6160503 |
Slovenia | −2.1529345 | −1.304369 |
Serbia | −1.5845897 | −0.97913306 |
Cyprus | −1.6468074 | −1.0145575 |
Greece | 0.46229253 | 0.26145001 |
Moldova | −1.0586318 | −0.65745899 |
Mongolia | −1.665327 | −1.025903 |
Montenegro | −2.827147 | −1.6969201 |
Poland | −1.5308906 | −0.939425 |
_cons | 0.54153984 | 0.33342044 |
Bulgaria | −1.2071 | −5.160 | 0 |
Albania | −1.1592 | −5.520 | 0 |
Croatia | −1.1568 | −4.760 | 0 |
Belarus | −2.0415 | −7.030 | 0 |
Georgia | −2.6626 | −7.030 | 0 |
Tajikistan | −1.4810 | −6.660 | 0 |
Turkey | −1.2983 | −6.630 | 0 |
Ukraine | −0.3955 | −2.060 | 0.04 |
Uzbekistan | −3.5079 | −8.670 | 0 |
Russia | −0.8858 | −4.940 | 0 |
Romania | −0.1506 (0.2055) | −0.730 | 0.464 |
Kazakhstan | −1.2396 | −5.000 | 0 |
Bosnia and Herzegovina | −1.0536 | −4.920 | 0 |
Azerbaijan | −3.0388 | −10.450 | 0 |
Macedonia | −1.8757 | −8.560 | 0 |
Armenia | −1.8567 | −8.300 | 0 |
Kyrgyzstan | 0.3629 (0.2298) | 1.580 | 0.114 |
Estonia | −3.0317 | −6.020 | 0 |
Czech Republic | −1.1714 | −4.790 | 0 |
Italy | −2.2347 | −8.460 | 0 |
Latvia | −1.9786 | −6.820 | 0 |
Lithuania | −1.7852 | −6.230 | 0 |
Slovakia | −1.0013 | −3.820 | 0 |
Slovenia | −2.1769 | −5.180 | 0 |
Serbia | −1.5975 | −6.970 | 0 |
Cyprus | −1.6615 | −5.090 | 0 |
Greece | 0.4579 (0.3170) | 1.440 | 0.149 |
Moldova | −1.0548 | −4.940 | 0 |
Mongolia | −1.6670 | −7.510 | 0 |
Montenegro | −2.8361 | −8.060 | 0 |
Poland | −1.5388 | −6.210 | 0 |
Other | 0.0385 (0.1409) | 0.270 | 0.785 |
Food products | −0.1382 (0.1439) | −0.960 | 0.337 |
Textiles | 0.3672 | 1.920 | 0.055 |
Clothing | 0.1311 (0.1701) | 0.770 | 0.441 |
Chemicals | 0.5306 | 2.700 | 0.007 |
Plastics and rubber | −0.0306 (0.2059) | −0.150 | 0.882 |
Mineral products | 0.3376 | 2.070 | 0.039 |
Metals and raw materials | −0.0580 (0.3297) | −0.180 | 0.860 |
Metal products | 0.0288 (0.1669) | 0.170 | 0.863 |
Machines and devices | 0.1393 (0.1485) | 0.940 | 0.348 |
Electronics | 0.2530 (0.2361) | 1.070 | 0.284 |
Construction | 0.3605 | 2.630 | 0.009 |
Wholesale | 0.1995 (0.1263) | 1.580 | 0.114 |
Retail | −0.0695 (0.1201) | −0.580 | 0.563 |
Hotels and restaurants | −0.1644 (0.1623) | −1.010 | 0.311 |
IT | 0.3336 (0.2302) | 1.450 | 0.147 |
Years on the market | 0.0062 | 3.33 | 0.001 |
Sta_capital | −1.2882 | −3.35 | 0.001 |
Time_officials | 0.5488 | 6.01 | 0.000 |
Efficiency | 0.0232 | 4.35 | 0.000 |
Thefts | 2.8411 | 3.36 | 0.000 |
medium_loc | −0.1124 | −2.15 | 0.031 |
large_loc | 0.5336 (0.0767) | 0.70 | 0.487 |
_cons | 0.5986 | 3.62 | 0.000 |
Country effect | TAK | ||
Industry effect | TAK | ||
Number of observations | 14470 | ||
F-Statistic | 1831.32 | ||
0.0000 | |||
pseudo | 0.0954 |
CPI | 16.566 | 11.6013 | 21 | 70 |
Investments | 15.457 | 4.7292 | 4.2 | 31.1 |
GDP per capita | 16.566 | 3174.36 | 796 | 30829.5 |
OECD | 16.566 | 0.500 | 0 | 1 |
CPI | −0.6106 | −8.03 | 0.000 |
Investments | 1.0797 | 9.66 | 0.000 |
GDP per capita | 0.0023 | 7.75 | 0.000 |
OECD | −8.3657 | −7.00 | 0.000 |
_cons | 13.6031 | 7.79 | 0.000 |
Country effect | TAK | ||
Industry effect | TAK | ||
Number of observations | 14.830 | ||
1664.09 | |||
Pseudo | 0.0843 | ||
0.0000 |
Bulgaria | 16.566 | 0.1318 | 0 | 1 |
Albania | 16.566 | 0.1458 | 0 | 1 |
Croatia | 16.566 | 0.1458 | 0 | 1 |
Belarus | 16.566 | 0.1458 | 0 | 1 |
Georgia | 16.566 | 0.1458 | 0 | 1 |
Tajikistan | 16.566 | 0.1456 | 0 | 1 |
Turkey | 16.566 | 0.2730 | 0 | 1 |
Ukraine | 16.566 | 0.2384 | 0 | 1 |
Uzbekistan | 16.566 | 0.1516 | 0 | 1 |
Russia | 16.566 | 0.4357 | 0 | 1 |
Romania | 16.566 | 0.1776 | 0 | 1 |
Kazakhstan | 16.566 | 0.1868 | 0 | 1 |
Bosnia and Herzegovina | 16.566 | 0.1458 | 0 | 1 |
Azerbaijan | 16.566 | 0.1516 | 0 | 1 |
Macedonia | 16.566 | 0.1458 | 0 | 1 |
Armenia | 16.566 | 0.1458 | 0 | 1 |
Kyrgyzstan | 16.566 | 0.1266 | 0 | 1 |
Estonia | 16.566 | 0.1273 | 0 | 1 |
Czech Republic | 16.566 | 0.1229 | 0 | 1 |
Italy | 16.566 | 0.1355 | 0 | 1 |
Latvia | 16.566 | 0.1410 | 0 | 1 |
Lithuania | 16.566 | 0.1266 | 0 | 1 |
Slovakia | 16.566 | 0.1262 | 0 | 1 |
Slovenia | 16.566 | 0.1266 | 0 | 1 |
Serbia | 16.566 | 0.1458 | 0 | 1 |
Cyprus | 16.566 | 0.1458 | 0 | 1 |
Greece | 16.566 | 0.1383 | 0 | 1 |
Moldova | 16.566 | 0.1458 | 0 | 1 |
Mongolia | 16.566 | 0.1458 | 0 | 1 |
Montenegro | 16.566 | 0.0947 | 0 | 1 |
Poland | 16.566 | 0.1779 | 0 | 1 |
Kosovo | 16.566 | 0.1098 | 0 | 1 |