| 1 | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2 | earnings premiums by firm characteristics |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 3 | variables | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | pooled over all years | average annual percent change |
| 4 |  | number |  |  |  |  |  |  |  |  |  |  |  |  |  |  | percent |
| 5 | frontier firms relative to non-frontier firms | 2.80 | 2.77 | 2.73 | 2.70 | 2.70 | 2.67 | 2.64 | 2.59 | 2.48 | 2.39 | 2.36 | 2.33 | 2.28 | 2.36 | 2.54 | -0.70 |
| 6 | importers relative to non-importers | 1.22 | 1.21 | 1.23 | 1.27 | 1.28 | 1.28 | 1.28 | 1.28 | 1.27 | 1.28 | 1.28 | 1.28 | 1.28 | 1.28 | 1.27 | 0.31 |
| 7 | exporters relative to non-exporters | 1.09 | 1.10 | 1.16 | 1.13 | 1.13 | 1.12 | 1.09 | 1.09 | 1.11 | 1.12 | 1.11 | 1.11 | 1.11 | 1.12 | 1.10 | 0.08 |
| 8 | foreign-controlled firms relative to domestic firms | 1.23 | 1.21 | 1.21 | 1.22 | 1.22 | 1.25 | 1.23 | 1.23 | 1.22 | 1.26 | 1.29 | 1.32 | 1.36 | 1.34 | 1.25 | 0.16 |
| 9 | high capital intensity firms relative to low capital intensity firms | 1.23 | 1.23 | 1.21 | 1.20 | 1.19 | 1.19 | 1.19 | 1.19 | 1.17 | 1.17 | 1.16 | 1.17 | 1.16 | 1.16 | 1.19 | -0.28 |
| 10 | high research and development intensity firms relative to low research and development intensity firms | 1.28 | 1.29 | 1.27 | 1.25 | 1.27 | 1.29 | 1.29 | 1.31 | 1.31 | 1.32 | 1.33 | 1.34 | 1.35 | 1.33 | 1.30 | 0.13 |
| 11 | old firms relative to young firms | 1.18 | 1.17 | 1.17 | 1.16 | 1.13 | 1.12 | 1.10 | 1.11 | 1.11 | 1.10 | 1.10 | 1.10 | 1.10 | 1.10 | 1.12 | -0.38 |
| 12 | medium-sized firms relative to small firms | 1.06 | 1.07 | 1.12 | 1.09 | 1.10 | 1.09 | 1.09 | 1.09 | 1.10 | 1.11 | 1.12 | 1.14 | 1.16 | 1.17 | 1.11 | 0.39 |
| 13 | large firms relative to small firms | 0.99 | 1.01 | 0.98 | 0.96 | 0.98 | 0.99 | 0.99 | 0.99 | 0.97 | 0.96 | 0.99 | 1.02 | 1.04 | 1.06 | 1.00 | 0.05 |

Question: how many times do frontier firms pay more than non-frontier firms on average?
Answer: 2.54

Question: how many times do foreign-controlled pay more than non-globalized firms on average?
Answer: 1.25

Question: how many times do high r&d intensity firms pay more than low r&d intensity firms on average?
Answer: 1.3