Return to Signaling by Project and Test Types
| Dependent Variable | ||||
|---|---|---|---|---|
| Project Value (Log) | Number of Projects | Number of Projects > 0 | Earnings | |
| (1) | (2) | (3) | (4) | |
| Panel A: Only Including Design Microcredentials | ||||
| Number of microcredentials | −0.024 | 0.005 | 0.003 | 9.864** |
| (0.071) | (0.004) | (0.002) | (3.698) | |
| Number of microcredentials × design project | 0.057 | 0.052*** | 0.027*** | 6.208*** |
| (0.044) | (0.007) | (0.003) | (1.364) | |
| Observations | 3,726 | 41,440 | 41,440 | 41,440 |
| Panel B: Only Including Finance Microcredentials | ||||
| Number of microcredentials | 0.277 | −0.006 | −0.005* | 2.322 |
| (0.196) | (0.004) | (0.003) | (2.669) | |
| Number of microcredentials × finance project | −0.056 | 0.026*** | 0.018*** | 10.450*** |
| (0.050) | (0.004) | (0.003) | (2.215) | |
| Observations | 743 | 12,892 | 12,892 | 12,892 |
| Panel C: Only Including Sales and Marketing Microcredentials | ||||
| Number of microcredentials | 0.141 | 0. 012* | 0.004 | 23.136+ |
| (0.136) | (0.004) | (0.003) | (13.439) | |
| Number of microcredentials × sales and marketing project | 0.125 | 0.035*** | 0.026*** | −3.566 |
| (0.210) | (0.004) | (0.003) | (15.688) | |
| Observations | 18,869 | 28,884 | 28,884 | 28,884 |
| Panel D: Only Including Technology Microcredentials | ||||
| Number of microcredentials | 0.190**** | 0.0002 | −0.002** | 3.271+ |
| (0.052) | (0.001) | (0.001) | (1.957) | |
| Number of microcredentials × technology project | −0.049+ | 0.020** | 0.012*** | 13.376*** |
| (0.025) | (0.002) | (0.001) | (2.204) | |
| Observations | 10,776 | 165,396 | 165,396 | 165,396 |
| Panel E: Only Including Virtual Assistant Microcredentials | ||||
| Number of microcredentials | 0.180 | 0.040*** | 0.025*** | 11.860+ |
| (0.272) | (0.007) | (0.004) | (6.639) | |
| Number of microcredentials × virtual assistant project | −0.046 | 0.012 | 0.009+ | 21.582* |
| (0.260) | (0.008) | (0.005) | (8.856) | |
| Observations | 988 | 18,584 | 18,584 | 18,584 |
| Panel F: Only Including Writing and Translation Microcredentials | ||||
| Number of microcredentials | 0.042 | 0.006* | 0.003* | 6.435*** |
| (0.054) | (0.003) | (0.001) | (1.677) | |
| Number of microcredentials × writing and translation project | 0.019 | 0.040*** | 0.022*** | 7.473*** |
| (0.025) | (0.004) | (0.002) | (1.178) | |
| Observations | 8,394 | 132,272 | 132,272 | 132,272 |
Notes: Estimates are from the fixed‐effects event‐study specification. In Column 1 the unit of observation is one project. In Columns 2–4, the unit of observation is a 14 day pre‐ or post‐test period. In addition to the variables reported, all models include year dummies, an average rating for completed projects, a dummy variable with the value 1 if the freelancer does not have ratings from past projects, cumulative (arsinh‐transformed) dollars earned on the platform, the cumulative number of completed projects on the platform, measured at the time of project start, and event fixed effects. Standard errors are clustered on the worker level. The significance levels in all specifications are: *** = 0.1%, ** = 1%, * = 5%, and + = 10%.