"Dependent variable";"Log of firm exit"
"Estimation period";2008–2014
"Target regions";"All regions"
Estimator;Random-effects;Random-effects;Random-effects;Random-effects;Fixed-effects
Model;[1];[2];[3];[4];[5]
"Institutional variables"
"Log of duration of a lawsuit at a regional arbitration court (mean)";"–0.4439** (–2.370)";;;;
"Log of duration of a lawsuit at a regional arbitration court (median)";;"–0.6972*** (–3.190)";;;
"Acceptance rate of petition by regional arbitration courts (%)";;;"–0.0341** (–2.180)";;
"Log of lawsuit application number to regional arbitration courts per 1,000 organization";;;;"0.1286 (1.250)";
"Expert criminal risk ranking";"–0.0025** (–2.090)";"–0.0023** (–1.980)";"–0.0023** (–1.990)";"–0.0019* (–1.640)";"–0.0018* (–1.770)"
"Economic integration variables"
"Log of world oil price";"0.6838*** (7.760)";"0.6796*** (7.790)";"0.7019*** (8.090)";"0.7029*** (8.190)";"0.6603*** (7.560)"
"Total trade in % of GRP";"–0.0037*** (–3.370)";"–0.0028*** (–2.630)";"–0.0035*** (–3.190)";"–0.0035*** (–3.060)";"–0.0035* (–1.640)"
"FDI inflow in % of GRP";"0.0117*** (2.740)";"0.0119*** (2.950)";"0.0082* (1.640)";"0.0095* (1.880)";"0.0104** (2.090)"
"Log of direct distance from Brussels";"–0.3021 (–1.490)";"–0.1465 (–0.730)";"–0.3574* (–1.740)";"–0.4942** (–2.280)";
"Control variables"
"GRP growth rate (%)";"–0.0288*** (–5.030)";"–0.0294*** (–5.040)";"–0.0307*** (–5.560)";"–0.0302*** (–5.660)";"–0.0274*** (–4.390)"
"Log of number of credit organizations and their branches per 100,000 residents";"0.0719 (0.590)";"0.0821 (0.710)";"–0.0662 (–0.550)";"–0.0452 (–0.360)";"0.1927 (1.270)"
"Log of number of PCs with internet connection per 100 workers";"–0.2784* (–1.770)";"–0.2533 (–1.540)";"–0.2187 (–1.350)";"–0.2312 (–1.450)";"–0.1517 (–0.970)"
"Log of number of firms and organizations per 10,000 residents";"0.3455** (2.240)";"0.3395** (2.270)";"0.2623* (1.840)";"0.3067* (1.840)";"0.3301 (0.570)"
"Log of population density";"0.0695*** (3.190)";"0.0675*** (3.300)";"0.0526** (2.390)";"0.0499** (2.140)";"2.0269 (1.300)"
"Average temperature in January";"–0.0265*** (–4.080)";"–0.0269*** (–4.340)";"–0.0259*** (–3.720)";"–0.0253*** (–3.690)";"–0.0456*** (–4.840)"
"Time trend dummy";"0.0937*** (2.720)";"0.0897*** (2.580)";"0.0771** (2.130)";"0.0811** (2.250)";"0.0742** (1.970)"
"Constant term";"3.3873** (1.990)";"3.0776* (1.790)";"5.6176** (2.410)";"2.4230 (1.370)";"–6.6001 (–1.050)"
"Control for district-level fixed-effects";Yes;Yes;Yes;Yes;No
"Control for individual effects of regions";Yes;Yes;Yes;Yes;Yes
N;562;562;575;575;575
R2;0.43;0.44;0.42;0.41;0.46
"Breusch–Pagan testa";49.88***;39.46***;42.14***;48.34***;53.04***
Hausman-testb;–;–;–;–;32.37***
"Wald test/F-test (χ2)c";557.34***;538.54***;531.72***;"511.81 ***";42.58***