Table 5 Multinomial logit model results...

Table 5

Multinomial logit model results (reference: give business to family) (N = 471)

	Sell to family		Sell to outsider		Liquidate
	Coeff	Std err	Coeff	Std err	Coeff	Std err
SEW	−0.39***	0.13	−0.56***	0.13	−0.73***	0.13
Rural	0.48	0.32	−0.75**	0.32	−0.31	0.38
Family ownership	0.77**	0.30	−0.32	0.30	−0.81***	0.33
Female owner	−1.01***	0.31	−0.37	0.31	−0.10	0.31
BIPOC owner	0.17	0.30	−0.39	0.30	−1.44***	0.43
Owner age	−0.02*	0.01	−0.03**	0.01	0.04***	0.01
Business age	0.01	0.01	0.02	0.01	−0.01	0.01
Sole proprietor	−1.03***	0.29	−0.16	0.29	0.03	0.30
Ln business income	−0.08	0.07	−0.02	0.07	−0.04	0.07
Employees	0.00	0.01	0.002	0.01	−0.03*	0.01
Wholesale	0.18	0.34	−0.46	0.34	−0.56	0.35
Production	−0.38	0.38	−0.77**	0.38	−1.12***	0.44
Constant	3.07**	1.15	4.54***	1.15	3.21***	1.16
Model fit statistics
Wald Chi²/Sig	162.57/0.00
Psuedo R²	0.22
AIC	1027.71
Hosmer–Lemeshow	15.09/0.92

	Sell to family		Sell to outsider		Liquidate
	Coeff	Std err	Coeff	Std err	Coeff	Std err
SEW	−0.39***	0.13	−0.56***	0.13	−0.73***	0.13
Rural	0.48	0.32	−0.75**	0.32	−0.31	0.38
Family ownership	0.77**	0.30	−0.32	0.30	−0.81***	0.33
Female owner	−1.01***	0.31	−0.37	0.31	−0.10	0.31
BIPOC owner	0.17	0.30	−0.39	0.30	−1.44***	0.43
Owner age	−0.02*	0.01	−0.03**	0.01	0.04***	0.01
Business age	0.01	0.01	0.02	0.01	−0.01	0.01
Sole proprietor	−1.03***	0.29	−0.16	0.29	0.03	0.30
Ln business income	−0.08	0.07	−0.02	0.07	−0.04	0.07
Employees	0.00	0.01	0.002	0.01	−0.03*	0.01
Wholesale	0.18	0.34	−0.46	0.34	−0.56	0.35
Production	−0.38	0.38	−0.77**	0.38	−1.12***	0.44
Constant	3.07**	1.15	4.54***	1.15	3.21***	1.16
Model fit statistics
Wald Chi²/Sig	162.57/0.00
Psuedo R²	0.22
AIC	1027.71
Hosmer–Lemeshow	15.09/0.92

Note(s): *p < 0.10; **p < 0.05; ***p < 0.01. Robust standard errors. Production includes agriculture, mining, construction, manufacturing; Wholesale includes wholesale trade and food services; Services (reference) includes trade professions such as finance, education, healthcare and entertainment. Rural: remote area and/or town less than 10,000 people

Source(s): Authors’ data

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