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Estimating Unobserved Complementarities between Entrepreneurs and Venture Capitalists (view source)
Revision as of 17:23, 22 August 2021
, 17:23, 22 August 2021→Notes
This section provides notes on the analysis in Selected_prelim.do. I ran the code and did a basic exploration of variables. These are the results:
* '''I couldn't make the sign on distance change. ''' That's a real finding! I tried CA/MA fixed effects and interactions, Silicon Valley/Boston Cambridge fixed effects and interactions, using quadratic effects, various transformations... nothing undid the results. Also, log distance is the best variable.
* matchinstagebroad outperforms matchinstagenarrow in some contexts, we should use it.
* I tried logging all the vars, even t_pccitydollarsrankm1, to no avail.
* pcexitvaluem is already set to 0 when exit=0. It is missing for undisclosed value acquisitions. '''It's a great RHS variable: Log it and use it!'''
* I used mktid fixed effects and the results look pretty good without the interactions... but less good with them for the probit. There was a slight improvement for the reg, but only 2 vars are sig either way. I think maybe year ind is fine.
* Doing value conditional on exit gave just 1 *** and 1 *. It's the exit that drives the sig in exit value.
* l_pcexpceopres is our PC team quality variable
* t_pccitydollarsrankm1 is our PC environment quality variable
==Dataset Rebuild==
