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Swiss Journal of Economics and Statistics

Table 6 Results: Zombies

From: Firms’ participation in the Swiss COVID-19 loan programme

 

(1) Part.(y/n)

(2) Part.(y/n)

(3) Part.(y/n)

(4) art.(y/n)

Dummy: debt > median, profit margin < median

0.09

   

Dummy: debt > p(75), profit margin < p(25)

 

0.14

  

Dummy: debt > median, profit-interest ratio < median

  

0.16

 

Dummy: debt > p(75), profit-interest ratio < p(25)

   

0.36

Headcount dummies

Yes

Yes

Yes

Yes

Age dummies

Yes

Yes

Yes

Yes

Constant

Yes

Yes

Yes

Yes

Lockdown index

Yes

Yes

Yes

Yes

Virus cases

Yes

Yes

Yes

Yes

Liquidity ratio

Yes

Yes

Yes

Yes

Debt ratio

Yes

Yes

Yes

Yes

Observations

192757

192757

141993

141993

Log-likelihood

− 112469.57

− 112464.19

− 85247.03

− 85121.55

  1. Logit model. The dependent variable is a firm-level binary variable that indicates firm participation in the loan programme. The number of observations varies depending on data availability of the grouped variables. Standard errors are clustered at the level of the grouped variable of interest. ***, ** and * denote statistical significance (two-tailed) at the 1%, 5% and 10% significance levels, respectively
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