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Table 5 OLS estimates of ROE (log scale) regression models (N = 2098)

From: Family involvement, firm size, and performance of private-owned enterprises

Variables Model 4(A) Model 4(B) Model 4(C) Model 4(D) Model 4(E)
Entrepreneurs’ education (primary education)   
 Secondary education 0.185**** 0.190**** 0.213* 0.188**** 0.214*
  (0.105) (0.105) (0.105) (0.105) (0.105)
 Higher education 0.129 0.152 0.203* 0.146 0.211*
  (0.098) (0.098) (0.100) (0.099) (0.100)
Politics relationship (1 = yes) 0.145* 0.145* 0.162** 0.146* 0.158*
  (0.062) (0.062) (0.062) (0.062) (0.062)
Diversification strategy (1 = yes) −0.048 −0.052 −0.053 −0.034 −0.046
  (0.069) (0.069) (0.069) (0.069) (0.069)
Manufacturing (1 = yes) 0.005 0.002 0.009 0.005 0.006
  (0.060) (0.060) (0.060) (0.060) (0.060)
Firm location (western)      
 Eastern 0.323*** 0.318*** 0.323*** 0.322*** 0.320***
  (0.077) (0.077) (0.076) (0.077) (0.076)
 Central −0.024 −0.023 −0.031 −0.012 −0.022
  (0.087) (0.086) (0.086) (0.087) (0.086)
Firm age 0.015* 0.014* 0.014* 0.015* 0.014*
  (0.007) (0.007) (0.007) (0.007) (0.007)
Firm size 0.046*** 0.084*** 0.061*** 0.041*** 0.070***
  (0.008) (0.019) (0.010) (0.008) (0.020)
Family ownership   0.328**    0.213****
   (0.114)    (0.119)
Family ownership *firm size   −0.051*    −0.022
   (0.024)    (0.025)
Family management    0.382***   0.303**
    (0.097)   (0.105)
Family management *firm size    −0.105*   −0.075
    (0.046)   (0.049)
Family intentions     0.069* 0.028
     (0.032) (0.034)
Family intentions *firm size     −0.021** −0.015****
     (0.007) (0.008)
Constant 1.570*** 1.296*** 1.417*** 1.545*** 1.259***
  (0.122) (0.155) (0.128) (0.122) (0.156)
R2 0.047 0.052 0.055 0.052 0.058
  1. *p < 0.05; **p < 0.01; ***p < 0.001; ****p < 0.1