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Table 3 Trivariate probit model of the joint choices of wage work and for-profit and nonprofit entrepreneurship

From: Are nonprofit entrepreneurs also Jacks-of-all-trades?

 

1: No controls

2: Controls for pre-college attributes

3: Controls for pre-labor market entry attributes

Marginal effects

 

(1.1)

(1.2)

(1.3)

(2.1)

(2.2)

(2.3)

(3.1)

(3.2)

(3.3)

(4.1)

(4.2)

(4.3)

 

Nonprofit startup

For-profit startup

Wage work

Nonprofit startup

For-profit startup

Wage work

Nonprofit startup

For-profit startup

Wage work

Non- profit startup

For-profit startup

Wage work

Balanced skill sets

            

Occupations

0.062*** (2.36)

0.191*** (11.22)

−0.047*** (2.72)

0.046* (1.64)

0.157*** (8.79)

−0.074*** (4.07)

0.039 (1.36)

0.150*** (8.25)

−0.074*** (4.00)

0.002

0.027

−0.029

Industries

0.105*** (3.37)

0.104*** (5.45)

−0.052*** (2.53)

0.084*** (2.54)

0.093*** (4.63)

−0.014 (0.64)

0.076** (2.26)

0.089*** (4.35)

−0.006 (0.26)

0.003

0.016

−0.019

Course_specialization

0.001 (0.22)

−0.004 (1.34)

0.004 (1.39)

0.006 (1.10)

−0.002 (0.51)

0.003 (0.99)

0.003 (0.46)

−0.003 (0.96)

0.004 (1.20)

0.000

−0.001

0.001

Controls

            

Age

   

0.119*** (2.65)

0.062*** (3.04)

−0.005 (0.27)

0.112*** (2.46)

0.052*** (2.38)

−0.015 (0.69)

0.005

0.012

−0.017

Age2

   

−0.001** (2.18)

−0.001* (1.86)

−0.000 (0.05)

−0.001** (1.98)

−0.000 (1.29)

0.000 (0.43)

−0.000

−0.000

0.000

Male

   

0.114 (1.41)

0.169*** (3.67)

0.485*** (10.36)

0.084 (0.96)

0.133*** (2.65)

0.433*** (8.54)

0.001

0.009

−0.010

White

   

−0.065 (0.37)

−0.249*** (2.60)

0.056 (0.54)

−0.055 (0.31)

−0.219** (2.26)

0.061 (0.58)

−0.001

−0.037

0.038

Father education

   

−0.034 (1.35)

0.031** (2.06)

−0.059*** (3.74)

−0.036 (1.41)

0.028* (1.87)

−0.060*** (3.77)

−0.002

0.007

−0.005

Mother education

   

0.017 (0.58)

−0.014 (0.81)

0.028 (1.58)

0.013 (0.44)

−0.015 (0.90)

0.027 (1.53)

0.001

−0.004

0.004

Either of parents started business

   

0.158** (2.05)

0.190*** (4.27)

−0.150*** (3.27)

0.125 (1.55)

0.155*** (3.38)

−0.127*** (2.71)

0.006

0.030

−0.036

 

1: No controls

2: Controls for pre-college attributes

3: Controls for pre-labor market entry attributes

Marginal effects

 

Non-profit startup

For-profit startup

Wage work

Non-profit startup

For-profit startup

Wage work

Nonprofit startup

For-profit startup

Wage work

Non- profit startup

For-profit startup

Wage work

High school rank

   

0.001 (0.93)

−0.003*** (4.30)

0.000 (0.51)

0.002 (1.20)

−0.003*** (3.85)

0.000 (0.06)

0.000

−0.000

0.000

Married at graduation

      

0.208* (1.81)

0.124* (1.74)

−0.078 (1.09)

0.011

0.024

−0.035

Close friends started business

      

−0.187** (2.26)

−0.322*** (6.85)

0.115*** (2.43)

−0.008

−0.059

0.066

Cumulative GPA

      

0.011 (0.15)

0.034 (0.84)

−0.046 (1.08)

0.000

0.004

−0.004

College

            

Agriculture

      

0.223 (1.50)

0.015 (0.18)

0.013 (0.17)

0.012

−0.008

−0.004

Business

      

0.171 (1.12)

0.152* (1.82)

0.022 (0.27)

0.007

0.016

−0.023

Design

      

0.095 (0.59)

0.044 (0.49)

0.143* (1.68)

0.005

0.004

−0.009

Engineering

      

0.490*** (2.83)

0.321*** (3.09)

0.015 (0.15)

0.033

0.054

−0.086

Human sciences

      

0.116 (0.76)

0.092 (1.13)

0.217*** (2.69)

0.005

0.004

−0.009

Constant

−2.27*** (22.0)

−1.47*** (24.2)

1.23*** (19.83)

−5.01*** (5.71)

−2.91*** (7.11)

1.37*** (3.46)

−4.96*** (5.25)

−2.72*** (5.88)

1.55*** (3.41)

   

  ρnf

 

0.294*** (6.81)

  

0.28*** (6.35)

  

0.28*** (6.09)

    

  ρnW

 

−0.39*** (16.1)

  

−0.43*** (16.7)

  

−0.43*** (16.7)

    

  ρfW

 

−0.11*** (2.38)

  

−0.095* (1.90)

  

−0.16*** (3.24)

    
  1. Note: t-statistics are in parenthesis. */**/*** significance level at 10%/5%/1%, respectively.