Table III. Descriptive statistics Whole...

Table III.

Descriptive statistics

	Whole sample					Women sample
Variables	Obs	Mean	SD	Minimum	Maximum	Obs	Mean	SD	Sign
Restricted team (teammates)
SIZE	1,970^a	0.892	1.426	0	10	728^a	0.712	0.979	***	Total number of teammates
HC	1,970^a	1.300	1.702	0	10.183	728^a	1.163	1.611	***	Score for HC of teammates
Family team	2,175^a	0.416	0.493	0	1	801^a	0.398	0.490		Dummy = 1 if there is any relative in the team
Wide team (affiliates)
SIZE	1,970^a	3.582	3.494	0	27	728^a	3.400	3.616	**	Total number of affiliates
HC	1,970^a	3.636	2.904	0	18.653	728^a	3.392	2.892	***	Score for HC of affiliates
Family team	2,175^a	0.676	0.468	0	1	801^a	0.695	0.461	*	Dummy = 1 if there is any relative in the team
Correlation SIZE-HC teammates		75.41
Correlation SIZE-HC affiliates		66.64
Motivations
Money	655	0.042	1.531	−3.61907	3.523176	260	−0.083	1.601	**	Factor 1 score using PCA on PSED II -Sect. W
Social recognition	655	0.018	1.462	−2.039372	5.178822	260	−0.089	1.387	*	Factor 2
Achievement	655	−0.036	1.317	−3.216376	3.895823	260	−0.109	1.329	*	Factor 3
Freedom	655	0.026	1.218	−3.685922	2.185493	260	0.174	1.172	***	Factor 4
Individual controls
Education	663	0.568	0.180	0	1	264	0.562	0.161		Level of formal education of the startupper
White	663	0.852	0.355	0	1	264	0.845	0.363		Dummy = 1 if the start-upper is white
Black	663	0.100	0.300	0	1	264	0.129	0.336	**	Dummy = 1 if the start-upper is black
Indian	663	0.054	0.227	0	1	264	0.045	0.209		Dummy = 1 if the start-upper is indian
Business controls
	Freq.	(%)				Freq.	(%)
Retail store	84	12.67				47	17.8		***
Restaurant	24	3.62				8	3.03
Consumer service	237	35.75				107	40.53		***
Health service	43	6.49				25	9.47		***
Manufacturing	39	5.88				13	4.92		***
Construction	36	5.43				5	1.89		***
Agriculture	34	5.13				9	3.41		***
Mining	1	0.15				0	0		*
Wholesale distribution	27	4.07				8	3.03		*
Transportation	11	1.66				3	1.14
Utilities	1	0.15
Communications	15	2.26				7	2.65
Finance	12	1.81				4	1.52
Insurance	6	0.9				4	1.52		***
Real estate	40	6.03				16	6.06
Business consulting services	53	7.99				8	3.03		***
Total	663	100				264	100

	Whole sample					Women sample
Variables	Obs	Mean	SD	Minimum	Maximum	Obs	Mean	SD	Sign
Restricted team (teammates)
SIZE	1,970^a	0.892	1.426	0	10	728^a	0.712	0.979	***	Total number of teammates
HC	1,970^a	1.300	1.702	0	10.183	728^a	1.163	1.611	***	Score for HC of teammates
Family team	2,175^a	0.416	0.493	0	1	801^a	0.398	0.490		Dummy = 1 if there is any relative in the team
Wide team (affiliates)
SIZE	1,970^a	3.582	3.494	0	27	728^a	3.400	3.616	**	Total number of affiliates
HC	1,970^a	3.636	2.904	0	18.653	728^a	3.392	2.892	***	Score for HC of affiliates
Family team	2,175^a	0.676	0.468	0	1	801^a	0.695	0.461	*	Dummy = 1 if there is any relative in the team
Correlation SIZE-HC teammates		75.41
Correlation SIZE-HC affiliates		66.64
Motivations
Money	655	0.042	1.531	−3.61907	3.523176	260	−0.083	1.601	**	Factor 1 score using PCA on PSED II -Sect. W
Social recognition	655	0.018	1.462	−2.039372	5.178822	260	−0.089	1.387	*	Factor 2
Achievement	655	−0.036	1.317	−3.216376	3.895823	260	−0.109	1.329	*	Factor 3
Freedom	655	0.026	1.218	−3.685922	2.185493	260	0.174	1.172	***	Factor 4
Individual controls
Education	663	0.568	0.180	0	1	264	0.562	0.161		Level of formal education of the startupper
White	663	0.852	0.355	0	1	264	0.845	0.363		Dummy = 1 if the start-upper is white
Black	663	0.100	0.300	0	1	264	0.129	0.336	**	Dummy = 1 if the start-upper is black
Indian	663	0.054	0.227	0	1	264	0.045	0.209		Dummy = 1 if the start-upper is indian
Business controls
	Freq.	(%)				Freq.	(%)
Retail store	84	12.67				47	17.8		***
Restaurant	24	3.62				8	3.03
Consumer service	237	35.75				107	40.53		***
Health service	43	6.49				25	9.47		***
Manufacturing	39	5.88				13	4.92		***
Construction	36	5.43				5	1.89		***
Agriculture	34	5.13				9	3.41		***
Mining	1	0.15				0	0		*
Wholesale distribution	27	4.07				8	3.03		*
Transportation	11	1.66				3	1.14
Utilities	1	0.15
Communications	15	2.26				7	2.65
Finance	12	1.81				4	1.52
Insurance	6	0.9				4	1.52		***
Real estate	40	6.03				16	6.06
Business consulting services	53	7.99				8	3.03		***
Total	663	100				264	100

Notes:

^aNumber of observations refers to number of entrepreneurs for all the waves observed. Selection of variables included in the multivariate analysis. For computation of Team variables, see Appendix AI. *p < 0.1; **p < 0.05; ***p ≤ 0.01

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