Variable

Coefficient

Sig

VIF

Constant

0.075

0.730

-

Information Restriction

−0.721

0.000

1.92

Control Constriction

−0.031

0.326

1.11

Downscaling Operation

0.219

0.000

1.93

Age

0.000

0.967

1.08

Gender (Ref = Male)

Female

0.006

0.934

1.09

Formality (Ref = Registered with PACRA)

Not Registered with PACRA

−0.101

0.233

1.23

Education (Ref = No Tertiary Education)

With Tertiary Education

−0.064

0.450

1.07

Years of Business Operation (Ref = Less than 5)

At Least 5 Years

0.010

0.902

1.07

Number of Employees (Ref = Less than 4)

At Least 4

−0.131

0.081

1.17

Annual Revenue (Ref = At Most ZMW 600,000)

Over ZMW 600,000

0.042

0.572

1.23