Table 2 Estimated results on the regulated effect of scale and ownership variables on the relationship between exports and excess capacity

Exd

0.2021***

(2.94)

0.1423

(1.60)

0.1622

(0.87)

0.0981

(0.80)

0.1957*

(1.96)

0.1016

(1.35)

0.0957

(0.90)

0.0796

(1.02)

Scal

0.1929**

(2.08)

0.1480*

(2.00)

0.1211*

(1.78)

0.1095

(1.01)

Stat

0.2498***

(2.65)

0.2100**

(2.03)

0.2434***

(2.49)

0.1763*

(1.78)

Exd × Scal

0.1421***

(3.15)

0.1211**

(2.17)

Exd × Stat

0.2055***

(3.11)

0.1623***

(3.03)

InpK

0.3456***

(3.08)

0.2951***

(3.01)

0.2879***

(4.00)

0.3002***

(3.13)

InpL

0.1925**

(2.07)

0.1897*

(1.82)

0.1761*

(1.85)

0.1682*

(1.83)

Up

−0.9304*

(−1.81)

−0.9224

(−1.52)

0.0408

(0.65)

−1.1250

(−1.63)

Down

−0.1290*

(−1.96)

−0.1402*

(−1.77)

−0.1317*

(−1.80)

−0.2020**

(−2.08)

Year

0.0807*

(1.83)

0.0911*

(1.72)

0.0904*

(1.93)

0.0825*

(1.77)

Hausman test

1.9600

1.9700

0.9800

1.4200

2.0900

1.6600

2.6600

1.7900

Adj-R ²

0.8007

0.8369

0.9015

0.9128

0.8201

0.8455

0.8970

0.9089

Wald test

15.5400

13.5200

19.6500

19.9700

9.4900

11.6800

20.1400

21.5500