A Systems View Across Time and Space
Table 4 Multinomial logistic regression results for business selling
From: Do geography and institutions affect entrepreneurs’ future business plans? Insights from Greece
Do you intend to sell your business to an investor in the near future ? | ||||
|---|---|---|---|---|
Maybe | Yes, to a Greek investor | Yes, to a foreign investor | No (base category) | |
‘First-nature’ geography | ||||
Sea access | 0.993 | 2.026*** | 0.864 | |
Natural resources | 1.012 | 1.096 | 0.926 | |
Natural environment | 0.996 | 2.000** | 0.972 | |
‘Second-nature’ geography | ||||
Proximity to competitors | 0.947 | 0.309*** | 0.960 | |
Proximity to the capital | 1.022 | 0.368*** | 0.680*** | |
Country location | 0.919* | 1.378** | 1.119 | |
Institutions | ||||
Corruption | 1.089 | 0.586 | 0.913 | |
Local governance | 0.970 | 4.155* | 1.021 | |
Controls | ||||
Tax policy | 1.134 | 0.709 | 1.289 | |
Infrastructure | 1.093 | 2.446** | 1.328 | |
Domestic | base | base | base | |
Foreign | 0.730 | 0.001*** | 2.809 | |
Manufacturing | base | base | base | |
Services | 1.416* | 0.025* | 1.307 | |
Very small firm | base | base | base | |
Small firm | 0.831 | 0.890 | 0.806 | |
Medium firm | 0.679 | 41.856*** | 0.287 | |
Large firm | 0.836 | 0.001*** | 0.457 | |
Number of Establishments = 1 | base | base | base | |
Number of Establishments > 1 | 1.093 | 0.356 | 1.224 | |
Constant | 0.496 | 0.001** | 0.027 | |
Observations | 742 | |||
Wald chi2 | 701.75 | |||
Prob > chi2 | 0.0000 | |||
Pseudo R2 | 0.0644 | |||
Log likelihood | − 548.204 | |||