Table 7 Financial literacy and participation in entrepreneurial activity: dynamic effect.
From: Knowledge creates value: the role of financial literacy in entrepreneurial behavior
Explained variable | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
|---|---|---|---|---|---|---|---|---|
Entrepre1* | Entrepre1* | Entrepre1* | Entrepre1* | Entrepre2* | Entrepre2* | Entrepre2* | Entrepre2* | |
Literacy1 | 0.002* (0.001) | 0.058** (0.024) | 0.004** (0.002) | 0.036*** (0.014) | ||||
Literacy2 | 0.002* (0.001) | 0.034*** (0.012) | 0.003* (0.002) | 0.052** (0.021) | ||||
Controls | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Observation | 24,409 | 24,409 | 24,409 | 24,409 | 2225 | 2225 | 2225 | 2225 |
Pseudo R2 | 0.013 | 0.013 | 0.048 | 0.048 | ||||
First-stage estimated F value | 11.14*** (0.001) | 11.78*** (0.000) | 12.21*** (0.000) | 12.28*** (0.000) | ||||
DWH test | 157.23*** (0.000) | 156.24*** (0.000) | 167.57*** (0.000) | 158.69*** (0.000) | ||||
Instrumental variable T value | 9.56*** | 10.48*** | 11.68*** | 12.24*** | ||||
Adj_R2 | 0.2376 | 0.2401 | 0.2218 | 0.2186 |
