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Table 5 Working time accounts (WTA) effects on profits and operating surplus (OS)

From: Working time accounts and firm performance in Germany

  β_WTA std.err restriction
(1) Firms with high and low shares of graduates and skilled workers
 (a) WTA effect on PROFITS
  (i) −2.292 3.123 share of graduates > =0.7 or share of skilled workers > =0.7
  (ii) −2.518* 1.495 share of graduates < 0.3 or share of skilled workers < 0.3
 (b) WTA effect on operating surplus (OS)
  (i) −0.337 0.629 share of graduates > =0.7 or share of skilled workers > =0.7
  (ii) −0.592*** 0.279 share of graduates < 0.3 or share of skilled workers < 0.3
(2) Industries with large and small sales fluctuations measured by the variation coefficient (v) - WTA effects on OS
 (i) 2.530 1.877 INDUSTRY = mining and quarrying (v = 0.151)
 (ii) 1.979 2.945 INDUSTRY = manufacture of motor vehicles (v = 0.188)
 (iii) 0.350 0.267 INDUSTRY = recreational and cultural activities (v = 0.183)
 (iv) −1.591* 0.911 INDUSTRY = agriculture, hunting, forestry, fishing (v = 0.102)
 (v) −4.970 3.869 INDUSTRY = architecture, engineering offices (v = 0.108)
 (vi) −0.421 0.449 INDUSTRY = education (v = 0.105)
(3) Firms with large and small sales fluctuations measured by v - WTA effects on OS
 (i) 1.340*** 0.503 firms with the 25% largest sales fluctuations
 (ii) −0.145 0.161 firms with the 75% smallest sales fluctuations
  1. Notes: The specifications are the same as in Table 3; *p < 0.1 and ***p < 0.01