From: Analysis of ownership network of European companies using gravity models
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |
---|---|---|---|---|---|---|---|---|---|
Coefficients | \(\beta\) | \(\beta\) | \(\beta\) | \(\beta\) | \(\beta\) | \(\beta\) | \(\beta\) | \(\beta\) | \(\beta\) |
(a) Regression table | |||||||||
(Intercept) | 1.5829*** | 1.6187*** | 1.5723*** | 1.5766*** | 1.6713*** | 1.8964*** | 1.6534*** | 2.0972*** | 2.1456*** |
\(D_{ij}\) | − 0.4726*** | − 0.4725*** | − 0.4727*** | − 0.4729*** | − 0.4735*** | − 0.4717*** | − 0.4718*** | − 0.4711*** | − 0.4725*** |
\(\text{SR}_i\) | − 0.1155*** | − 0.1193*** | − 0.0897*** | − 0.1106*** | − 0.1283*** | − 0.1316*** | − 0.1113*** | − 0.1105*** | − 0.0969*** |
\(\text{RB}_i\) | − 0.0717*** | − 0.0551*** | − 0.0695*** | − 0.0603*** | − 0.0616*** | − 0.0670*** | − 0.0910*** | − 0.0747*** | − 0.0866*** |
\(\text{RCB}_i\) | 0.0086 | 0.0079 | − 0.0035 | − 0.0062 | − 0.0214*** | 0.0047 | 0.0001 | − 0.0020 | 0.0071 |
\(\text{FA}_i\) | 0.0206*** | 0.0183*** | 0.0159*** | 0.0163*** | 0.0128*** | 0.0210*** | 0.0177*** | 0.0149*** | 0.0111*** |
\(\text{CR}_i\) | 0.1236*** | 0.1099*** | 0.1219*** | 0.1689*** | 0.1986*** | 0.1280*** | 0.1765*** | 0.1138*** | 0.0795*** |
\(\text{CO}_i\) | 0.2193*** | 0.2172*** | 0.2215*** | 0.2202*** | 0.2209*** | 0.2255*** | 0.2287*** | 0.2281*** | 0.2299*** |
\(\text{GDP}_i\) | − 0.0023* | − 0.0019* | − 0.0016 | − 0.0013 | − 0.0023* | − 0.0390*** | − 0.0258*** | − 0.0285*** | − 0.0223** |
\(\text{PI}_i\) | − 0.0042** | − 0.0030* | − 0.0040** | − 0.0044** | − 0.0029* | − 0.0021 | − 0.0031* | − 0.0009 | 0.0026 |
\(\text{SR}_j\) | − 0.0054 | − 0.0099 | 0.0043 | 0.0017 | 0.0158 | 0.0594*** | 0.0758*** | 0.0260 | 0.0058 |
\(\text{RB}_j\) | − 0.0057 | − 0.0112 | − 0.0291*** | − 0.0351*** | − 0.0459*** | − 0.0430*** | − 0.0548*** | − 0.0473*** | − 0.0599*** |
\(\text{RCB}_j\) | − 0.0152** | − 0.0130** | − 0.0197*** | − 0.0213*** | − 0.0326*** | − 0.0178*** | − 0.0160*** | − 0.0229*** | − 0.0134*** |
\(\text{FA}_j\) | − 0.0122*** | − 0.0120*** | − 0.0114*** | − 0.0111*** | − 0.0123*** | − 0.0086*** | − 0.0107*** | − 0.0159*** | − 0.0199*** |
\(\text{CR}_j\) | 0.0464 ** | 0.0537*** | 0.0514*** | 0.0726*** | 0.0811*** | 0.0100 | − 0.0210 | − 0.0661*** | − 0.0583*** |
\(\text{CO}_j\) | 0.2218*** | 0.2205*** | 0.2216*** | 0.2223*** | 0.2244*** | 0.2304*** | 0.2326*** | 0.2327*** | 0.2344*** |
\(\text{GDP}_j\) | − 0.0076*** | − 0.0080*** | − 0.0085*** | − 0.0082*** | − 0.0086*** | − 0.0139** | − 0.0062 | − 0.0163** | − 0.0152* |
\(\text{PI}_j\) | − 0.0105*** | − 0.0096*** | − 0.0091*** | − 0.0101*** | − 0.0095*** | − 0.0139*** | − 0.0139*** | − 0.0091*** | − 0.0089*** |
Adj. \(R^2\) | 0.4034*** | 0.4029*** | 0.4029*** | 0.4032*** | 0.4041*** | 0.4026*** | 0.4032*** | 0.4019*** | 0.4030*** |
\(\epsilon ^{\text {grav}}\) | 0.0078 | 0.0073 | 0.0078 | 0.0077 | 0.0076 | 0.0080 | 0.0081 | 0.0080 | 0.0082 |
Errors | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
---|---|---|---|---|---|---|---|---|---|
(b) Absolute errors of estimated centralities | |||||||||
\(\epsilon _{C_{D}^+}\) | 3.0414 | 5.7021 | 3.3355 | 3.5763 | 4.2312 | 3.8885 | 4.6273 | 6.5212 | 4.7929 |
\(\epsilon _{C_{D}^-}\) | 4.5173 | 3.6933 | 5.1694 | 4.9229 | 4.9568 | 5.5349 | 4.1927 | 6.3334 | 5.5961 |
\(\epsilon _{C_{B}}\) | 142.7669 | 183.9388 | 139.3517 | 160.2476 | 161.9900 | 147.5215 | 167.2923 | 185.0560 | 182.4788 |
\(\epsilon _{C_{C}^+}\) | 2.72E−06 | 3.25E−06 | 2.46E−06 | 2.22E−06 | 1.75E−06 | 2.77E−06 | 2.99E−06 | 1.91E−06 | 2.43E−06 |
\(\epsilon _{C_{C}^-}\) | 4.62E−06 | 1.97E−06 | 4.71E−06 | 4.06E−06 | 3.60E−06 | 4.59E−06 | 2.77E−06 | 2.26E−06 | 3.77E−06 |
\(\epsilon _{C_{H}}\) | 1.98E−05 | 1.67E−05 | 2.06E−05 | 1.94E−05 | 1.85E−05 | 2.13E−05 | 1.81E−05 | 1.64E−05 | 2.06E−05 |
\(\epsilon _{C_{A}}\) | 1.42E−05 | 1.93E−05 | 1.28E−05 | 1.38E−05 | 1.39E−05 | 1.47E−05 | 1.45E−05 | 1.22E−05 | 1.53E−05 |
\(\epsilon _{C_{P}}\) | 2.83E−05 | 3.45E−05 | 2.62E−05 | 3.15E−05 | 3.18E−05 | 3.25E−05 | 2.23E−05 | 2.05E−05 | 3.00E−05 |