Table 5

Probit regression: the impact of Islamic religiosity proxies on the involvement in early-stage entrepreneurial activity

VariablesModel 2Model 3Model 4Model 5Model 6
Age−7.59e−05−2.50e−05−0.000153−0.000438−0.000408
(0.000914)(0.000913)(0.000914)(0.000916)(0.000934)
Education0.0457***0.0463***0.0454***0.0466***0.0442***
(0.00950)(0.00949)(0.00950)(0.00952)(0.00975)
Gender0.001910.002400.002000.001440.00730
(0.0207)(0.0207)(0.0207)(0.0207)(0.0210)
Internet0.0152***0.0166***0.0163***0.0171***0.0214***
(0.00154)(0.00161)(0.00157)(0.00156)(0.00169)
Construction_Worker−3.35e−071.02e−07−4.19e−07−2.72e−06**−3.60e−06***
(1.09e−06)(1.07e−06)(1.07e−06)(1.11e−06)(1.20e−06)
Ln_Investment0.0619***0.0633***0.0598***0.0568***0.0360***
(0.0109)(0.0110)(0.0108)(0.0104)(0.0113)
NPL−10.30***−11.63***−12.01***−12.98***−12.95***
(1.515)(1.564)(1.559)(1.565)(1.562)
NPF−0.786−0.112−0.169−0.5122.107***
(0.595)(0.608)(0.601)(0.597)(0.630)
Population_density−2.71e−05***−2.71e−05***−3.20e−05***−2.94e−05***−2.79e−05***
(4.56e−06)(4.57e−06)(4.71e−06)(4.58e−06)(4.75e−06)
Ln_GDP0.142***0.160***0.159***0.190***0.173***
(0.0338)(0.0366)(0.0342)(0.0335)(0.0351)
Ln_Islamic_school0.0543***    
(0.0115)    
Ln_Islamic_seminary 0.0361***   
 (0.00888)   
Ln_Hajj  0.0666***  
  (0.0119)  
Ln_Mosque   0.0923*** 
   (0.00983) 
Ln Halal    0.129***
    (0.0146)
Constant−3.657***−3.733***−4.077***−4.504***−4.438***
(0.383)(0.409)(0.408)(0.382)(0.413)
Observations21,27921,27921,27921,27920,440

Note(s): Standard errors in parentheses

***p < 0.01, **p < 0.05, *p < 0.1

Models 2, 3, 4, 5, and 6 are estimated using probit regression

Source(s): Authors’ own work
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