Wage gains from foreign ownership: evidence from linked employer–employee data

Journal for Labour Market Research

Table 12 Pooled OLS results for Eq. 1, specification 4

	Coefficient	t-value
Majority owner^b
Foreign	0.437	20.4
Person controls
Male	0.154	19.1
Age	0.032	15.2
Age squared/100	− 0.033	13.8
Months spent non-employed in 2003–2011	− 0.003	31.8
Receipt of disability payment	− 0.373	23.3
Receipt of care allowance	− 0.207	12.1
Health expenditures (log)	0.002	7.3
Job controls^d
Tenure if observed	0.001	4.3
Tenure is unobserved	0.138	12.2
Spell lasting for 1 day	0.354	3.1
Top manager	Ref.
Other managers	− 0.062	1.6ⁿ
Professional	− 0.016	0.4ⁿ
Other white collar	− 0.298	9.0
Skilled blue collar	− 0.607	28.8
Assembler, machine operator	− 0.728	18.7
Laborer in elementary occupation	− 0.821	18.8
Regional unemployment rate (log)	− 0.063	5.2
Budapest	0.142	11.3
Firm controls
Firm size (log)	0.086	7.3
Capital-labor ratio (log)	0.041	9.3
Exporter	0.185	9.4
Constant	− 1.650	24.0
Adjusted R-squared	0.479
Number of observations	19,961,622

Skilled workers, 2003–2011
Dependent variable: log daily earnings relative to the national mean. For the exact definition of the variables see Appendix 2: "Data". The coefficients of 63 sector–year dummies are not shown. The standard errors are adjusted for clustering by persons and firms. All coefficients are significant at 0.01 level except n) not significant at 0.1 level