| Variables | Small Retail Establishments (SRE) | Large Retail Establishments (LRE) | ||
| Coefficient | z | Coefficient | z | |
| GPOP | 0.830*** | 4.86 | 1.071*** | 6.67 |
| GPCI | 0.618*** | 4.61 | 0.626*** | 4.82 |
| GRE | 0.150 | 1.33 | 0.305*** | 3.18 |
| POPBASE | 0.019*** | 2.39 | 0.036 | 1.58 |
| PCIBASE | 0.000* | −1.77 | 0.010 | 0.54 |
| REBASE | 0.003 | 0.55 | 0.010* | 1.68 |
| PHP | −0.002 | −0.19 | 0.013 | 0.81 |
| CBSI | −0.011 | −0.73 | −0.015 | −0.98 |
| ROADDEN | −0.019 | −1.53 | −0.040** | −2.32 |
| OPERATIVE | −0.019*** | −3.33 | −0.019*** | −3.31 |
| PCITAX | 0.000 | 0.3 | 0.001 | 1.3 |
| COLLD | 0.009 | 0.72 | 0.007 | 0.55 |
| METRO | −0.012 | −1.02 | −0.004 | −0.3 |
| METROADJ | 0.830 | 4.86 | 1.071 | 6.67 |
| R2 | 0.424 | 0.330 | ||
| N | 299 | 299 | ||