Critically discuss the figure below

The figure presents a table titled "Table 2 Management quality," which analyzes the impact of different measures of competition on the dependent variable, management quality, in the product market. The table shows results from three regression models, each using a different measure of competition as an independent variable. Here's a critical discussion of the findings: 1. Dependent Variable: Management Quality: • The dependent variable across all three models is "management quality," which is likely a composite measure capturing various aspects of managerial effectiveness and practices within firms. 2. Independent Variables: • Model 1: Import Penetration: This variable measures the extent to which foreign goods and services penetrate the domestic market. • Model 2: (1 - Lerner) Index of Competition: The Lerner Index is an inverse measure of market power. Here, (1 - Lerner) indicates the degree of competition (higher values mean more competition). • Model 3: Number of Competitors: This variable simply counts the number of competitors in the market. 3. Coefficients and Significance Levels: • Each cell in the table reports the coefficient of the independent variable on management quality, with standard errors in parentheses. • Significance levels are indicated by asterisks: • *p < 0.1 (weak significance) • **p < 0.05 (moderate significance) • ***p < 0.01 (strong significance) 4. Observations: • The number of observations (firms or data points) varies slightly across the three models, ranging from 2657 to 2819.