Variable Name

Variable Description

Expected Sign

GROWTH

Dummy measuring whether a firm grew or not

SECj

Sector dummy for sector j

AGEF

Age of firm in years from the date firm was birthed.

−/+

LF

Legal form/status of the business.

+

MOT

Motivation of entrepreneur for getting into business

+

PSE

Prior sector experience of the entrepreneur

+/−

AGE

Age of business owner in years.

−

EXP

Exports as a proxy for competitiveness.

+

ED

Educational background of the entrepreneur measured by number of years of schooling.

+

TAXP

Tax payment measuring status of the firm.

+

BANK

Banking indicating whether a firm has a bank account.

+

GEN

Gender of the entrepreneur.

MS

Marital status of the entrepreneur.

TEC

Technology use

+