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Table 3 Summary of gravity models

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

  1. Values are significant at: *\(p=0.05\); **\(p=0.01\); ***\(p=0.001\) levels