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Table 3 Main determinants of the training intensity (optimal inventory level).

From: Another piece of the puzzle: Firms’ investment in training as production of optimal skills inventory

  OC UC DS Interaction CR DS
(1) (2) %change (3) %change
Overage costs
 Total overage costs − 0.0564*** (0.018) − 0.0423*** (0.015) − 4.14%   
Underage costs
 Total underage costs 0.0008 (0.001) 0.0013* (0.001) 0.13%   
Demand structure
 Industry volatility 0.0267*** (0.010) 0.0222** (0.010) 2.25% 0.0255** (0.010) 2.58%
Interaction CR DS
 Critical ratio     − 0.0004 (0.000) − 0.04%
 Critical ratio × volatility     0.0001** (0.000) 0.01%
 Constant − 3.1725*** (0.083) − 4.0479*** (0.487)   − 4.0355*** (0.485)  
 Controls   Included Included Included Included
Number of observations 3252 3252 3252 3252 3252
Pseudo R2 0.009 0.040 0.040 0.038 0.038
  1. Table reports marginal effects of a negative binomial regression; all costs are in 10,000 Euros per person; %-change calculated as (incidence-rate ratio− 1) × 100; dependent variable: Number of apprentices; controls: Firm’s size(in #employees), Firm’s age (in years), Collective agreements (binary), Worker representation (binary), Training occupation, and Federal state; standard errors in parentheses; * statistically significant at the 0.10 level; ** at the 0.05 level; *** at the 0.01 level