Table 5.
Econometric results. Robustness.
| Model 4 | Model 5 | Model 6 | Model 7 | |||||
|---|---|---|---|---|---|---|---|---|
| Subsample | Big6 | No Big6 | With Commissioning | No Commissioning | ||||
| β | S.E. | β | S.E. | β | S.E. | β | S.E. | |
| Big6 | - | - | - | - | 0.1009 | 0.1252 | −0.5028 *** | 0.1648 |
| Commissioning | 0.4558 *** | 0.1259 | −0.0254 | 0.1506 | - | - | - | - |
| Size | −0.4424 *** | 0.1242 | −0.3066 ** | 0.1202 | −0.5111 *** | 0.1146 | −0.1802 | 0.1296 |
| HHI | −0.0015 ** | 0.0006 | −0.0004 | 0.0010 | −0.0012 ** | 0.0006 | −0.0013 | 0.0009 |
| GDP per capita | −0.4336 | 0.2773 | −0.3009 | 0.3918 | −0.2952 | 0.2732 | −0.5231 | 0.4142 |
| Constant | 9.6306 *** | 2.9136 | 7.9276 * | 4.0906 | 8.8779 *** | 2.8536 | 9.7227 ** | 4.3458 |
| N. Obs | 382 | 260 | 410 | 232 | ||||
| R-squared | 0.0732 | 0.0286 | 0.0535 | 0.0805 | ||||
Dependent variable: quality score. Estimation method: OLS linear regression. *, ** and *** significant at 10%, 5% and 1%, respectively.