A Systems View Across Time and Space
Table 4 Credit constraint and Investment in self-generation
From: Firm performance under financial constraints: evidence from sub-Saharan African countries
Variable | Two-part model (1) | Heckman selection model (2) | ||
|---|---|---|---|---|
Probit | Gsh > 0 | Probit | Gsh > 0 | |
Outages(ln) | 0.024* | 0.011*** | 0.038*** | 0.010*** |
(0.016) | (0.002) | (0.016) | (0.002) | |
Age(ln) | 0.112*** | − 0.001 | 0.094 | − 0.004 |
(0.035) | (0.005) | (0.035) | (0.005) | |
Constrainta | − 0.141*** | − 0.008) | − 0.138*** | − 0.0037 |
(0.051) | (0.006) | (0.051) | (0.006) | |
Small | − 0.463*** | − 0.0037 | − 0.451*** | 0.006 |
(0.055) | (0.0075) | (0.056) | (0.008) | |
Large | 0.4038*** | 0.018** | 0.394*** | 0.006** |
(0.080) | (0.009) | (0.080) | (0.010) | |
Industry dummy | Yes | Yes | Yes | No |
Country dummy | Yes | Yes | Yes | Yes |
ρ | − 0.492*** | |||
(0.093) | ||||
δ | 0.155*** | |||
(0.003) | ||||
LR test of indep. eqns (ρ = 0) | χ2(1) = 9.98 P > χ2 = 0.001 | |||