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Goal Consensus, Subordinates’ Prior Performances, and Supervisors’ Resource Allocation Preferences

Table 6 An Alternative Measure of the Branch Office’s Prior Performance
Dependent variable Ab_SENIOR i,t Ab_ADV i,t Ab_SENIOR i,t Ab_ADV i,t
(t-statistic) (t-statistic) (t-statistic) (t-statistic)
(1) (2) (3) (4)
-0.01 0.10**
CONSENSUS i,t
(-0.21) (2.59)
0.06*** 0.24 0.06*** 0.10
ACHIEVE i,t-1
(4.32) (1.60) (4.36) (1.53)
-0.01 0.05
CONSENSUS i ×ACHIEVE i,t-1
(-0.49) (1.15)
0.01 0.13 0.01 0.15
REGIONAL_AGE i,t
(0.53) (1.31) (0.50) (1.51)
-0.02 1.01*** -0.02 1.00***
REGIONAL_GENDER i,t
(-0.62) (3.12) (-0.60) (3.08)
-0.01 -0.03*** -0.01 -0.03***
REGIONAL_TENURE i,t
(-0.26) (-3.90) (-0.26) (-3.98)
0.57*** 0.57***
SENIOR i,t-1
(32.61) (32.56)
0.25*** 0.25***
ADV i,t-1
(7.35) (7.21)
0.01 0.03 0.01 0.03
MGT_AGE i,t
(0.81) (0.56) (0.80) (0.65)
0.01 -0.01 0.01 0.01
MGT_GENDER i,t
(0.19) (-0.10) (0.15) (0.10)
-0.01*** -0.01 -0.01*** -0.01
MGT_TENURE i,t
(-2.85) (-1.35) (-2.84) (-1.39)
0.01*** -0.01 0.01*** -0.01
PRICE i,t
(3.86) (-0.37) (3.81) (-0.22)
0.01 0.03* 0.01 0.03*
NUM_ENTRUST i,,t
(0.23) (1.92) (0.23) (1.95)
0.01*** -0.04 0.01*** -0.05
OFFICE_SIZE i,t
(2.84) (-1.07) (2.84) (-1.18)
-0.01*** 0.01 -0.01*** 0.01
OFFICE_AGE i,t
(-3.50) (0.28) (-3.46) (0.22)
-0.02 -0.31 -0.02 -0.33
TURNOVER i,t
(-0.46) (-0.56) (-0.45) (-0.59)
-0.01*** 0.01 -0.01*** 0.01
NUM_BRANCH i,t
(-4.80) (0.23) (-4.78) (0.15)
0.01* -0.02 0.01* -0.02
CYCLE i,t
(1.66) (-0.23) (1.65) (-0.22)
-0.01 0.04 -0.01 0.05
INDEX i,t
(-0.54) (0.35) (-0.56) (0.40)
MONTH Included Included Included Included
REGION Included Included Included Included
Model 2SLS 2SLS 2SLS 2SLS
Adjusted R-Squared 0.47 0.10 0.47 0.10
F-Value 52.27*** 7.59*** 48.85*** 7.37***
Observations 1,637 1,637 1,637 1,637
Note: *** p < 0.01, ** p < 0.05, and * p < 0.10 (two-tailed test)
See Table 2 for variable definitions.

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