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  • Latex Regression Output From Eststo

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    Michael Ewens
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    Had spin is equal to one after the spinoff formation for s days after spinoff and zero otherwise. Early stage equals one if the time of the parent's first investment in the entrepreneurial company was at the Seed or Series A stage. Standard errors are clustered at the parent level, where each new spinoff creates a new Standard error.

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    Latex regression output from eststo

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    Had spin is equal to one after the spinoff formation for s days after spinoff and zero otherwise. Early stage equals one if the time of the parent's first investment in the entrepreneurial company was at the Seed or Series A stage. Standard errors are clustered at the parent level, where each new spinoff creates a new Standard error.

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    16K views1 page

    Latex Regression Output From Eststo

    Uploaded by

    Michael Ewens
    Had spin is equal to one after the spinoff formation for s days after spinoff and zero otherwise. Early stage equals one if the time of the parent's first investment in the entrepreneurial company was at the Seed or Series A stage. Standard errors are clustered at the parent level, where each new spinoff creates a new Standard error.

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    of 1

    Table 1: Impact of spinoffs: IV regression

    OLS Probit Bi-Probit+IV

    Had Spinoff -0.0167+ -0.0822∗ -0.943∗


    (0.00902) (0.0399) (0.196)

    Early stage -0.132∗ -0.513∗ -0.445∗


    (0.00877) (0.0367) (0.0339)

    Age of parent -0.00536 -0.0131 -0.0221


    (0.00821) (0.0303) (0.0206)
    First stage
    Peer diversity -0.774∗
    (0.245)

    Age of parent -0.0188


    (0.0190)

    Early stage -0.00116


    (0.0273)
    Observations 11641 11641 10489
    Adjusted R2 0.118
    Standard errors in parentheses
    Dependent variable is equal to 1 if the parent firm’s investment (that was not
    associated with the spinoff founder) went IPO. Includes all parents that pass
    the conditions discussed above. Had spin is equal to one after the spinoff
    formation for s days after spinoff and zero otherwise. Early stage is equal to one
    if the time of the parent’s first investment in the entrepreneurial company was at the Seed
    or Series A stage. First stage column reports the probit results of the first-stage of
    IV-probit estimator. All estimators include year dummies. Standard errors are clustered
    at the parent level, where each new spinoff creates a new
    + p < 0.10, ∗ p < 0.05

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