Table 3: Model Specifications (11)-(21) (continued) Location Factors (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) Origin of the Firm China* China* China* HK* HK* HK* x x x x x Function of the Firm x x x x x x H** L** M** RD** SM** Chinese Population Migrant Stock 0.32a 0.02 0.50a 0.01 0.21 -0.15 0.37a (Total) (log) (0.07) (0.13) (0.41) (0.17) (0.23) (0.17) (0.10) Migrant Stock 0.33a -0.01 (Mainland China) (log) (0.08) (0.15) Migrant Stock 0.11a 0.04 (Hong Kong + Macau) (log) (0.03) (0.06) Test Statistics Number of Observations 23660 23660 23660 4921 4921 4921 4165 1947 2797 2205 16449 Number of Cases 279 279 279 58 58 58 49 23 33 26 194 Likelihood Ratio Index 0.1773 0.1749 0.1746 0.2100 0.2099 0.2110 0.3846 0.0990 0.1035 0.2410 0.2208 (Pseudo R2) AIC 2064.5 2070.4 2071.2 433.0 433.0 432.4 293.9 210.0 288.7 201.2 1368.4 BIC 2169.4 2175.3 2176.1 517.5 517.5 517.0 376.3 282.4 365.9 275.3 1468.6 Note: Standard errors in parentheses with a, b and c respectively denoting significance at the 1%, 5% and 10% levels. * China: Mainland China; HK: Hong Kong ** H: Headquarters; L: Logistics; M: Manufacturing: RD: Research & Development; SM: Sales & Marketing
Table 3: Model Specifications (11)-(21) (continued) Location Factors (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) Origin of the Firm China* China* China* HK* HK* HK* x x x x x Function of the Firm x x x x x x H** L** M** RD** SM** Chinese Population Migrant Stock (Total) (log) 0.32a (0.07) 0.02 (0.13) 0.50a (0.41) 0.01 (0.17) 0.21 (0.23) -0.15 (0.17) 0.37a (0.10) Migrant Stock (Mainland China) (log) 0.33a (0.08) -0.01 (0.15) Migrant Stock (Hong Kong + Macau) (log) 0.11a (0.03) 0.04 (0.06) Test Statistics Number of Observations 23660 23660 23660 4921 4921 4921 4165 1947 2797 2205 16449 Number of Cases 279 279 279 58 58 58 49 23 33 26 194 Likelihood Ratio Index (Pseudo R2) 0.1773 0.1749 0.1746 0.2100 0.2099 0.2110 0.3846 0.0990 0.1035 0.2410 0.2208 AIC 2064.5 2070.4 2071.2 433.0 433.0 432.4 293.9 210.0 288.7 201.2 1368.4 BIC 2169.4 2175.3 2176.1 517.5 517.5 517.0 376.3 282.4 365.9 275.3 1468.6 Note: Standard errors in parentheses with a, b and c respectively denoting significance at the 1%, 5% and 10% levels. * China: Mainland China; HK: Hong Kong ** H: Headquarters; L: Logistics; M: Manufacturing: RD: Research & Development; SM: Sales & Marketing