Research Article
Experienced CEO and Factor Productivity Improvement: Re-Examination of Experience Trap
Table 4
Coefficient of the placebo test.
| | Nearest neighbor matching | Radius matching | TFP | TFP |
| d_2 | 0.008 | 0.009 | (0.012) | (0.012) | d_1 | 0.018 | 0.020 | (0.012) | (0.012) | d0 | 0.020 | 0.020 | (0.011) | (0.012) | d1 | 0.023 | 0.024 | (0.012) | (0.012) | d2 | 0.033 | 0.035 | (0.013) | (0.013) | d3 | 0.037 | 0.038 | (0.014) | (0.014) | d4 | 0.008 | 0.010 | (0.016) | (0.017) | d5 | 0.009 | 0.010 | (0.018) | (0.018) | Observations | 11,711 | 12,371 | χ2 | 5578 | 5603 | R-squared | 0.924 | 0.920 |
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Note: standard errors in parentheses; , , . |