Experts, help me translate this article, thank you!

To further examine the statistical properties of the index, we investigate whether the full system index reduces the variance or the signal-to-noise ratio relative to using; for example, only two measures of the industrial relations system index (Huselid and Becker 1996). Using a bootstrapping technique with one thousand repetitions with replacement in the simulation over time, the results show that using all five industrial relations system variables greatly reduces the variance of the industrial relations system measure relative to using only two variables. For example, the variance for the nineteen OECD nations using only two variables is 0.63, but using all five variables reduces the variance to 0.34. Using the systems approach appears to reduce the statistical noise that comes from attributing industrial relations to only a couple of institutional variables in the industrial relations system.In a manner similar to the estimates of indices that affect firm performance, a single independent factor may not matter, but together the industrial relations system variables may impact economic outcomes (Ichniowski and Shaw 2003). Measuring FDI At the firm level, investment has been shown to be an economic measure that is highly responsive to the institutional characteristics of labor within the organization, which includes unionization (Hirsch 1991). By extension of these microeconomic results to the macroeconomic level, we anticipate that international investment decisions would also be responsive to countryspecific labor market institutions (Prescott 1986). Even if FDI has some measurement problems in capturing “pure gross investment,” it does enhance the economic prospects within a country by, at a minimum, moving resources to their optimal use (Lipsey 2000). Direct investment capital flows are defined as equity capital, reinvested earnings, and other capital associated with various intercompany debt transactions and this comprises about 8 percent of international capital flows (Lipsey 2001). Although small relative to all forms of capital flows that include equity investment, FDI is still a large part of international financial transactions. Specifying the Empirical Model Table 1 shows the variables used in the model, consistent with the economic and institutional variables from our reduced form equation (1). We present the variables used and sources of data for our model of the determinants of FDI. The composition of the industrial relations variable is presented, followed by the capital variables, labor market factors, product market determinants, and the other variables that have been shown to be important in labor market studies of FDI. In order to calculate the values for each measure of the industrial relations system, we developed a 1 to 5 scale for each variable, indicating most (1) to least (5) favorable to business.