Table 2 Results of SAR models.
From: Touristification and retail diversity: theory and evidence
Model 1 – baseline model | Model 2 – SAR model | Model 3 – SAR model | Model 2 – robustness test model | |
|---|---|---|---|---|
Dep. Var. | ln(\({m}_{k,t}\)) | ln(\({m}_{k,t}\)) | ln(\({m}_{k,t}\)) | ln(\({m}_{k,t}\)) |
Clustering | k-means (50 clusters) | k-means (50 clusters) | k-means (50 clusters) | DBSCAN (85 clusters) |
Constant | −1.158 (−0.419) | −22.744 (−1.874)a | −21.193 (−1.764)a | −28.439 (−3.949)c |
Shop Area, \({\mathrm{ln}(S}_{k,t})\) | 0.221 (5.436)c | 2.499 (2.002)b | 2.472 (1.989)b | 3.055 (3.638)c |
Household Income, \({\mathrm{ln}(E}_{k})\) | 0.154 (1.220) | 0.155 (1.234) | 0.139 (1.129) | 0.232 (2.572)b |
Hotel Occupancy\(,\,{\mathrm{ln}(H}_{k,t})\) | −0.014 (−0.659) | 0.224 (1.695)a | 0.208 (1.595) | 0.263 (3.328)c |
\({\mathrm{ln}(S}_{k,t})\times \,{\mathrm{ln}(H}_{k,t})\) | −0.025 (−1.826)a | −0.025 (−1.812)a | −0.030 (−3.224)c | |
Fixed Time Effect | Yes | Yes | No | Yes |
Adj R-sq | 0.21 | 0.22 | 0.23 | 0.50 |
No. of Obs. | 174 | 174 | 174 | 208 |
