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In the probit model for the determinants of High_MQP, we include the instruments primogeniture and AHHI in addition to all of the other controls.
(2004) AHHI The average value (over the As above past three years) of the Herfindahl-Hirschman index computed based on the firm's market share (based on sales and using three-digit SIC industry classification) ROLL Roll's (1984) average effective CRSP and bid-ask spread over the fiscal authors' year calculation ILLI Amihud's (2002) illiquidity As above ratio, defined as the average over the fiscal year of the square root of the ratio of the daily absolute stock return to the corresponding daily dollar volume) ZERO Lesmond et al.'s (1999) measure As above of transaction costs, defined as the percentage of trading days with zero returns during the fiscal year MHINMH Log of the ratio of managerial Bloom and Van hours per week over non- Reenen managerial hours per week (2007) References
Significant at * 1% ** 5% and *** 10% respectively Market structure (AHHI) does not affect the level of competitiveness in the short-run since the estimated coefficient, although negative, is not statistically significant, despite the opposite finding in the long-run.
Where HCR is Head Count Ratio (proxy for poverty), AHHI is Average Household Income (proxy for Growth), GINI is Inequality Coefficient (proxy for inequality), AR (1) is Auto regressive (1), k is Trend rate of change in poverty due to time, d 0 is Intercept, d 1 is growth elasticity of poverty, d 2 is inequality elasticity of poverty, and e is random error in poverty measure.
Coefficients of average household income (AHHI) and income inequality (GINI) are significant at 1 percent and 5 percent respectively for four decades.
It was at that conference that industry leaders asked Abushousheh to spearhead the newly formed Association of Households International (AHHI).
"My personal involvement in this," says Rich Newman, AHHI president and chairperson/president of the Pennsylvania CCRC Pennybyrn at Maryfield, "came from my seven or eight years' experience with culture change and developing six households for our community.
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