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A Systems View Across Time and Space

Table 6 Results of regressions

From: Medium term effects of culture, transactions and institutions on opportunity entrepreneurship

 

Regression 1

Regression 2

Regression 3

Regression 4

Regression 5

Basic model

IV weakness

IV weakness

Sensitivity analysis

Structural change

Dependent variable

OPP

TI

C1

OPP

OPP″

C 1

0.033***

    

(1.95)

C 2

−0.012

    

(−0.72)

C 3

−0.021***

    

(−1.70)

TI

0.044***

  

0.050*

 

(1.93)

(2.60)

Birth

 

−0.098*

   

(−7.84)

PAT

  

0.365*

  

(4.21)

C1′

   

−0.014

 

(−0.80)

C2′

   

−0.035*

 

(−2.73)

C3′

   

0.018

 

(1.25)

dum × C1″

    

−0.048**

(−1.96)

dum × C2″

    

−0.022

(−1.04)

dum × C3″

    

0.039**

(2.06)

dum × TI

    

0.007

(0.242)

Constant

0.699*

1.576*

−0.680*

0.702*

 

(53.57)

(7.12)

(−3.38)

(54.26)

Adjusted R2

0.43

  

0.45

0.44

Exogeneity test

 

0.85

0.92

  

Partial instrumental variables R2

 

0.54

0.26

  

Partial F-statistic

 

61.54

17.77

  
  1. *Significant at 1%; **significant at 5%; **significant at 10%. The parentheses include the t test statistics for the coefficients of the regressions. In Regression 5, we also used the variables C1″, C2″, C3″, ΤΙ″ and the constant but do not display their estimates because they are the same as in Regression 1 (the basic model).