Table I Descriptive statistics of...

Table I

Descriptive statistics of variables in econometric models (2004 values used)

	Mean	SD	n
Log revenues	8.24	5.16	2,548
Log net profits	1.64	9.10	2,411
White owned	0.89	0.32	2,918
Black owned	0.09	0.28	2,918
Asian owned	0.03	0.16	2,918
Log firm assets	8.94	3.68	2,911
Credit risk	3.38	0.73	2,898
White Majority zipcode	0.90	0.31	2,918
Black majority zipcode	0.05	0.22	2,918
Other race majority zipcode	0.06	0.23	2,918
Avg same Ind work ex	11.45	9.99	2,916
Av. Ed. (yrs)	14.84	2.55	2,883
Edu., HS or less	0.15	0.34	2,917
Edu., technical	0.07	0.24	2,917
Edu., some Clg	0.22	0.38	2,917
Edu., associate	0.09	0.27	2,917
Edu., bachelors	0.26	0.41	2,917
Edu., some grad	0.05	0.21	2,917
Edu., masters	0.12	0.31	2,917
Edu., PhDs/Prof.	0.04	0.19	2,917
Avg age	44.98	10.31	2,915
Hi tech	0.02	0.13	2,918
Med. tech	0.13	0.34	2,918
Low tech	0.85	0.36	2,918
Sole proprietor	0.36	0.48	2,918
Provides product	0.51	0.50	2,918
Provides service	0.86	0.35	2,918
Prop. US Cit.	0.97	0.15	2,917
Prop. male	0.68	0.42	2,918
Tot. active fndrs	1.37	0.71	2,918
Log total employees	0.70	0.79	2,854

	Mean	SD	n
Log revenues	8.24	5.16	2,548
Log net profits	1.64	9.10	2,411
White owned	0.89	0.32	2,918
Black owned	0.09	0.28	2,918
Asian owned	0.03	0.16	2,918
Log firm assets	8.94	3.68	2,911
Credit risk	3.38	0.73	2,898
White Majority zipcode	0.90	0.31	2,918
Black majority zipcode	0.05	0.22	2,918
Other race majority zipcode	0.06	0.23	2,918
Avg same Ind work ex	11.45	9.99	2,916
Av. Ed. (yrs)	14.84	2.55	2,883
Edu., HS or less	0.15	0.34	2,917
Edu., technical	0.07	0.24	2,917
Edu., some Clg	0.22	0.38	2,917
Edu., associate	0.09	0.27	2,917
Edu., bachelors	0.26	0.41	2,917
Edu., some grad	0.05	0.21	2,917
Edu., masters	0.12	0.31	2,917
Edu., PhDs/Prof.	0.04	0.19	2,917
Avg age	44.98	10.31	2,915
Hi tech	0.02	0.13	2,918
Med. tech	0.13	0.34	2,918
Low tech	0.85	0.36	2,918
Sole proprietor	0.36	0.48	2,918
Provides product	0.51	0.50	2,918
Provides service	0.86	0.35	2,918
Prop. US Cit.	0.97	0.15	2,917
Prop. male	0.68	0.42	2,918
Tot. active fndrs	1.37	0.71	2,918
Log total employees	0.70	0.79	2,854

Notes: Figures may not add up to 100 percent due to rounding. Data of ventures owned by black, white and Asian races included, hence the number of observations drops from 3,140 to 2,918. Furthermore, number of observations vary since some ventures did not report various variables, for example, survival status of all 2,918 ventures was known but revenue and net profits were not reported by some ventures in certain years

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