Variable names and measures
| Variables | Measures |
|---|---|
| Dependent variable | |
| Exit intention | 1 = sell to outsiders; 2 = sell to family; 3 = give to family (reference); 4 = liquidate |
| Independent variables | |
| SEW | REI scale for socioemotional wealth measured on a 7-point Likert scale from (1) strongly disagree to (7) strongly agree |
| Rural location | 1 = rural area or town less than 10,000 people; 0 = town more than 10,000 people |
| Family ownership | 1 = owner considers businesses as a family business; 0 = otherwise |
| Female owner | 1 = owner is female; 0 = owner is male |
| BIPOC owner | 1 = owner is Black, Indigenous, person of color, or Hispanic; 0 = owner is White |
| Owner age | Owner age in 2019 |
| Business age | Age of business in 2019 |
| Sole proprietor | 1 = business is a sole proprietorship; 0 = other types of legal structure |
| Ln business income | Log of annual business income in 2018 |
| Employees | Number of full and part-time employees |
| Wholesale | 1 = wholesale trade and food services industry; 0 = otherwise |
| Production | 1 = agriculture, mining, construction, manufacturing; 0 = otherwise |
| Services | 1 = trade professions such as finance, education, healthcare, and entertainment; 0 = otherwise |
| Variables | Measures |
|---|---|
| Exit intention | 1 = sell to outsiders; 2 = sell to family; 3 = give to family (reference); 4 = liquidate |
| SEW | REI scale for socioemotional wealth measured on a 7-point Likert scale from (1) strongly disagree to (7) strongly agree |
| Rural location | 1 = rural area or town less than 10,000 people; 0 = town more than 10,000 people |
| Family ownership | 1 = owner considers businesses as a family business; 0 = otherwise |
| Female owner | 1 = owner is female; 0 = owner is male |
| BIPOC owner | 1 = owner is Black, Indigenous, person of color, or Hispanic; 0 = owner is White |
| Owner age | Owner age in 2019 |
| Business age | Age of business in 2019 |
| Sole proprietor | 1 = business is a sole proprietorship; 0 = other types of legal structure |
| Ln business income | Log of annual business income in 2018 |
| Employees | Number of full and part-time employees |
| Wholesale | 1 = wholesale trade and food services industry; 0 = otherwise |
| Production | 1 = agriculture, mining, construction, manufacturing; 0 = otherwise |
| Services | 1 = trade professions such as finance, education, healthcare, and entertainment; 0 = otherwise |
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