- Note: In column (1) moderate and strong negative (positive) shocks are pooled into a single dummy variable, while in column (2), they enter separately. Column (3) only considers strong negative (positive) shocks. Clustered standard errors in (). The coefficients denote unweighted average marginal effects. ***, ** and * indicate significance at the 1%, 5% and 10% level, respectively. Base category is trade, 1–4 employees, in 2008–2009, mainly foreign ownership, single-establishment. Excludes firms providing partial information on ALMP use for either sub-period
