From: Predictors of loss due to pharmaceutical fraud: evidence from the U.S.
Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | ln(cost) | |
Age | 0.0285 | 0.821*** | 0.00322 | 0.655*** | 0.00868 | − 0.0254 | 0.0140 | 0.795*** | − 0.00592 | 0.0104 | 0.0150 | 0.00894 |
(0.0243) | (0.229) | (0.0266) | (0.225) | (0.0213) | (0.0218) | (0.0259) | (0.229) | (0.0287) | (0.0205) | (0.0281) | (0.0299) | |
Male | − 2.377 | − 2.780 | − 0.896 | − 0.915 | − 5.000** | − 0.900 | − 1.679 | − 2.149 | − 1.153 | − 5.206** | − 2.791* | − 2.645 |
(2.168) | (2.446) | (1.955) | (2.058) | (2.142) | (3.559) | (2.014) | (2.338) | (1.363) | (2.170) | (1.692) | (1.702) | |
White | 1.857*** | 3.541*** | 1.672** | 2.894*** | 0.763 | 0.574 | 1.669** | 3.312*** | 1.551** | 0.818 | 0.359 | 0.386 |
(0.652) | (0.727) | (0.695) | (0.738) | (0.650) | (0.901) | (0.694) | (0.751) | (0.783) | (0.608) | (0.854) | (0.861) | |
Collusion | − 4.501*** | − 4.616*** | − 3.619*** | − 3.892*** | − 3.940*** | − 4.164*** | − 3.776*** | − 4.081*** | − 0.409 | − 4.011*** | − 1.291 | − 1.008 |
(0.740) | (0.622) | (0.867) | (0.728) | (0.727) | (0.581) | (0.869) | (0.735) | (0.820) | (0.682) | (0.847) | (0.917) | |
ln(duration) | 1.724*** | 13.49*** | 1.130** | 10.66*** | 2.279*** | 1.232** | 1.642*** | 13.18*** | 1.019*** | 2.486*** | 1.303*** | 1.258*** |
(0.536) | (3.377) | (0.568) | (3.285) | (0.500) | (0.577) | (0.501) | (3.375) | (0.314) | (0.494) | (0.327) | (0.333) | |
US public company | 3.561*** | 2.718*** | 3.484*** | 3.304*** | 2.102*** | 1.320 | 3.450*** | 2.842*** | 2.607*** | 1.860*** | 2.616*** | 2.544*** |
(0.722) | (0.770) | (0.659) | (0.668) | (0.707) | (0.809) | (0.685) | (0.743) | (0.768) | (0.711) | (0.741) | (0.747) | |
ln(Years in business) | 0.526** | 0.381* | 0.298 | 0.476* | 0.325 | 0.282 | 0.243 | |||||
(0.266) | (0.220) | (0.285) | (0.265) | (0.220) | (0.277) | (0.324) | ||||||
ln(N of employees) | 0.215 | 0.434*** | 0.239* | 0.244* | ||||||||
(0.161) | (0.131) | (0.137) | (0.137) | |||||||||
Age*ln(duration) | − 0.211*** | − 0.173*** | − 0.207*** | |||||||||
(0.0609) | (0.0601) | (0.0611) | ||||||||||
Fraud type dummies included | No | No | No | No | Yes | Yes | No | No | No | Yes | Yes | Yes |
Constant | 7.961*** | − 36.92*** | 8.085*** | − 28.09** | 9.406*** | 13.04*** | 6.869** | − 36.77*** | 9.252*** | 9.526*** | 11.55*** | 11.11*** |
(3.066) | (13.39) | (2.968) | (12.91) | (3.005) | (2.987) | (2.923) | (13.34) | (2.269) | (2.976) | (2.530) | (2.577) | |
Log likelihood | − 95.943 | − 91.782 | − 87.429 | − 84.102 | − 70.930 | − 60.483 | − 94.582 | − 90.790 | − 166.936 | − 75.252 | − 139.255 | − 138.993 |
LR test vs. linear model | 0.0001 | 0.0001 | 0.0006 | 0.0017 | 0.0041 | 0.0073 | 0.0011 | 0.0024 | 0.0008 | 0.0009 | 0.0013 | 0.0062 |
Observations | 44 | 44 | 41 | 41 | 38 | 33 | 44 | 44 | 75 | 40 | 65 | 65 |
Number of groups | 18 | 18 | 16 | 16 | 14 | 13 | 18 | 18 | 27 | 16 | 25 | 25 |