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Table 6 Logit model of early and lifetime entrepreneurial entry with controls for diversity of academic, occupational and industrial experience

From: Once an entrepreneur, always an entrepreneur? The impacts of skills developed before, during and after college on firm start-ups

Dependent variable

Entrepreneurship within 5 years of graduation

Entrepreneurship within 5 years of graduation

Lifetime entrepreneurial entry

Lifetime entrepreneurial entry

AC_SPEC

−0.0011**

−0.0011**

−0.001

−0.0007

 

(−2.05)

(−2.03)

(−1.20)

(−0.97)

AVGOCCUP

 

0.0170**

 

0.2787***

  

(2.56)

 

(7.22)

AVGIND

 

0.0051

 

0.2425***

  

(0.70)

 

(7.90)

Male

0.0173***

0.0162***

0.0305**

0.0218**

 

(2.83)

(2.67)

(2.53)

(2.03)

Married at graduation

0.0147

0.0159

0.0517**

0.0551***

 

(1.25)

(1.35)

(2.56)

(2.94)

Ethnicity

0.003

0.0031

0.0563**

0.0461**

 

(0.28)

(0.29)

(2.50)

(2.20)

High school class rank

0

0

−0.0007***

−0.0005***

 

(−0.46)

(−0.41)

(−3.94)

(−3.69)

Cumulative GPA

0.0074

0.0093*

−0.0087

0.004

 

(1.39)

(1.73)

(−0.90)

(0.46)

Number of siblings

−0.0006

−0.0005

0.0032

0.002

 

(−0.42)

(−0.36)

(1.07)

(0.76)

Grow up with two parents in household

−0.0083

−0.0063

−0.0287

−0.0249

 

(−0.82)

(−0.65)

(−1.47)

(−1.32)

Either of parents started business

0.0033

0.0027

0.0416***

0.0284***

 

(0.57)

(0.46)

(3.68)

(2.85)

Close friends started business

−0.0174***

−0.0162***

−0.0660***

−0.0492***

 

(−2.89)

(−2.71)

(−5.65)

(−4.56)

Father education

−0.0029

−0.0029

0.0081**

0.0075**

 

(−1.46)

(−1.45)

(2.17)

(2.21)

Mother education

0

−0.0003

−0.0089**

−0.0098***

 

0.00

(−0.12)

(−2.16)

(−2.65)

Colleges

    

 Agriculture and Life Sciences

0.0482***

0.0465***

0.0579**

0.0434**

 

(2.75)

(2.71)

(2.53)

(2.10)

 Business

0.0028

0.0011

0.0108

0.0028

 

(0.25)

(0.11)

(0.57)

(0.17)

 Design

0.0582**

0.0558**

0.1120***

0.0797**

 

(2.33)

(2.30)

(3.22)

(2.63)

 Engineering

0.0017

0.0019

0.0139

0.0181

 

(0.17)

(0.20)

(0.79)

(1.15)

 Human Sciences

0.0336**

0.029*

0.016

−0.0006

 

(2.12)

(1.91)

(0.75)

(−0.03)

Graduation years

    

 1987-1991

0.0308*

0.0292*

−0.0163

−0.0271**

 

(1.89)

(1.82)

(−1.08)

(−2.38)

 1992-1996

0.0377**

0.0342**

−0.0325**

−0.0525***

 

(2.37)

(2.21)

(−2.33)

(−5.12)

 1997-2001

0.0508***

0.0446***

−0.0640***

−0.1012***

 

(2.93)

(2.72)

(−4.97)

(−11.06)

 2002-2006

0.0624***

0.0488**

−0.0949***

−0.2034***

 

(3.33)

(2.99)

(−7.41)

(−15.68)

Log pseudolikelihood

−16110.61

−15883.2

−36705.8

−29524.4

Observations

5248

5227

5242

5221

  1. Note: Numbers in the parenthesis are z-statistics. Coefficients have been converted into marginal effects. *, ** and ***represent statistical significance at the 10%, 5% and 1% levels, respectively. We obtain similar results using a probit specification. The logit model is selected because its thicker tails better accommodate relatively rare events such as being an entrepreneur over a five year period.
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