|
Dependent variable Quit = 1
|
Model
5
|
Odds ratio
|
Model
6
|
Odds ratio
|
Model
7
|
Odds ratio
|
|
monitored external funding invested, amount (logs)
|
-0.305***
|
0.737***
|
-0.296*
|
0.744*
|
-0.666
|
0.514
|
|
(0.072)
|
|
(0.145)
|
|
(0.406)
|
|
| personal funding invested, amount (logs) |
-0.248** |
0.780** |
-0.461* |
0.631* |
-1.266* |
0.282* |
|
(0.088) |
|
(0.224) |
|
(0.555) |
|
| unmonitored external funding invested, amount (logs) |
0.231* |
1.260* |
0.158 |
1.171 |
0.098 |
1.103 |
|
(0.095) |
|
(0.221) |
|
(0.450) |
|
| household net-worth, logs |
-0.012 |
0.988 |
0.015 |
1.016 |
0.289 |
1.335 |
|
(0.065) |
|
(0.173) |
|
(0.370) |
|
| educ. (1=community, or some college) |
-0.194 |
0.824 |
-0.544+ |
0.580+ |
0.780 |
2.182 |
|
(0.167) |
|
(0.325) |
|
(0.741) |
|
| educ. (2=college or some graduate training) |
-0.032 |
0.969 |
-0.917* |
0.400* |
-0.431 |
0.650 |
|
(0.181) |
|
(0.432) |
|
(0.997) |
|
| educ. (3=postgraduate studies) |
-0.597* |
0.550* |
-0.734 |
0.480 |
0.993 |
2.699 |
|
(0.239) |
|
(0.533) |
|
(1.544) |
|
| industry exp. (years) |
-0.295*** |
0.744*** |
-0.351* |
0.704* |
-0.760+ |
0.468 |
|
(0.084) |
|
(0.164) |
|
(0.439) |
|
| start-up exp. (years) |
-0.209+ |
0.811+ |
-0.232 |
0.793 |
-0.588 |
0.555 |
|
(0.116) |
|
(0.246) |
|
(0.566) |
|
| managerial exp. (years) |
0.468*** |
1.596*** |
0.503* |
1.654* |
1.280** |
3.596** |
|
(0.095) |
|
(0.202) |
|
(0.461) |
|
| bonding – social capital |
-0.057 |
0.945 |
0.011 |
1.012 |
-0.157 |
0.854 |
|
(0.065) |
|
(0.142) |
|
(0.340) |
|
| bridging – social capital |
0.061 |
1.063 |
0.119 |
1.126 |
0.188 |
1.207 |
|
(0.066) |
|
(0.178) |
|
(0.386) |
|
| team size |
0.187* |
1.206* |
0.239 |
1.270 |
0.994 |
2.703 |
|
(0.073) |
|
(0.199) |
|
(0.743) |
|
| growth asp. (“as large as possible” =1) |
0.139 |
1.149 |
0.432 |
1.540 |
-0.339 |
0.713 |
|
(0.151) |
|
(0.386) |
|
(1.000) |
|
| type of business (=1, extractive sector) |
-0.166 |
0.847 |
0.030 |
1.031 |
-1.209 |
0.299 |
|
(0.347) |
|
(0.518) |
|
(1.554) |
|
| type of business (=2, transforming sector) |
0.227 |
1.255 |
-0.195 |
0.823 |
-0.313 |
0.731 |
|
(0.184) |
|
(0.385) |
|
(0.891) |
|
| type of business (=3, consum. oriented sector) |
0.081 |
1.084 |
-0.033 |
0.968 |
-0.345 |
0.708 |
|
(0.143) |
|
(0.326) |
|
(0.716) |
|
| type of business (=4, other sectors/NA) |
-0.072 |
0.930 |
1.108 |
3.029 |
0.801 |
2.228 |
|
(0.664) |
|
(1.542) |
|
(2.473) |
|
| Constant |
0.333* |
1.395* |
0.757* |
2.132* |
0.210 |
1.234 |
|
(0.162) |
|
(0.333) |
|
(0.785) |
|
|
Observations
|
1,166
|
|
293
|
|
85
|
|
|
Log Likelihood
|
-762.783
|
|
-168.654
|
|
-37.764
|
|
|
χ2test
|
103.9
(df=18,
|
p-value
<0.001)
|
30.35 (df=18,
|
p-value
<0.05)
|
30.20 (df=18,
|
p-value
<0.05)
|