Log Investment+

Coefficient

Boot. Std. Dev.

Z

Higher education

0.1850

0.3244

0.57

Log sales

0.1739

0.1040

1.67^*

Small firm

−0.7566

0.4171

−1.81^*

Large firm

0.4389

0.5077

0.86

Crime severe obstacle

−0.4095

0.4357

−0.94

Crime major obstacle

0.1220

0.4875

0.25

Crime minor obstacle

0.1734

0.4267

0.41

Inverse Mill’s ratio

−2.1489

0.7031

−3.06^**

Constant

14.3611

2.2977

6.25

R-squared

0.4821

Adjusted R-squared

0.4599

Wald chi2 (8)

206.34

Number of observations

195