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Table 7. 
Mundlak Estimates of the Main Variables
ROY_INTRD_INT
VariableCoefficientt-statisticsVariableCoefficientt-statistics
FY2004–2005 to FY2007–2008
DFOR50 0.451 3.91*** DFOR50 −0.336 −1.34 
DFOR25 0.467 2.15** DFOR25 −0.054 −0.18 
DFOR10 −0.023 −0.40 DFOR10 −0.172 −0.49 
DFOR_EXP −0.042 −0.89 DFOR_EXP −0.164 −0.42 
FY2008–2009 to FY2013–2014 
DFOR50 0.525 6.61*** DFOR50 0.073 0.36 
DFOR25 0.240 2.07** DFOR25 0.004 0.02 
DFOR10 0.029 0.26 DFOR10 −0.081 −0.29 
DFOR_EXP 0.170 1.05 DFOR_EXP 0.595 1.47 
ROY_INTRD_INT
VariableCoefficientt-statisticsVariableCoefficientt-statistics
FY2004–2005 to FY2007–2008
DFOR50 0.451 3.91*** DFOR50 −0.336 −1.34 
DFOR25 0.467 2.15** DFOR25 −0.054 −0.18 
DFOR10 −0.023 −0.40 DFOR10 −0.172 −0.49 
DFOR_EXP −0.042 −0.89 DFOR_EXP −0.164 −0.42 
FY2008–2009 to FY2013–2014 
DFOR50 0.525 6.61*** DFOR50 0.073 0.36 
DFOR25 0.240 2.07** DFOR25 0.004 0.02 
DFOR10 0.029 0.26 DFOR10 −0.081 −0.29 
DFOR_EXP 0.170 1.05 DFOR_EXP 0.595 1.47 

Note: ***, **, and * denote significance at the 1%, 5%, and 10% level, respectively.

Source: Author's calculations.

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