Table 1.

Estimates of the effect of different types of knowledge on the survival rate (models 1–6, logistic regressions) and growth rate (models 7–12, OLS) at the third year for pioneer firms

	Dependent variable
	Survival rate at third year, $S^{\left(t+3\right)}$						3-y growth rate, $G^{\left(t+3\right)}$
Independent variables	1	2	3	4	5	6	7	8	9	10	11	12
Industry knowledge		0.${\mathrm{466}}^{***}$				0.${\mathrm{457}}^{***}$		0.${\mathrm{174}}^{***}$				0.${\mathrm{185}}^{***}$
($\mathrm{\Phi }$)		(0.114)				(0.123)		(0.029)				(0.031)
Occupation knowledge			0.${\mathrm{184}}^{**}$			0.035			0.033			−0.029
($\mathrm{\Psi }$)			(0.085)			(0.092)			(0.022)			(0.023)
Years of schooling				0.${\mathrm{163}}^{*}$		0.134				0.023		0.012
($edu$)				(0.086)		(0.091)				(0.025)		(0.025)
Local knowledge					0.${\mathrm{238}}^{***}$	0.${\mathrm{228}}^{***}$					0.014	0.007
($\rho$)					(0.071)	(0.072)					(0.019)	(0.019)
Initial size	−0.${\mathrm{246}}^{***}$	−0.${\mathrm{251}}^{***}$	−0.${\mathrm{261}}^{***}$	−0.${\mathrm{226}}^{**}$	−0.${\mathrm{235}}^{**}$	−0.${\mathrm{227}}^{**}$	−0.${\mathrm{393}}^{***}$	−0.${\mathrm{394}}^{***}$	−0.${\mathrm{395}}^{***}$	−0.${\mathrm{391}}^{***}$	−0.${\mathrm{393}}^{***}$	−0.${\mathrm{391}}^{***}$
($\log \left(n_0\right)$)	(0.093)	(0.095)	(0.094)	(0.092)	(0.093)	(0.096)	(0.031)	(0.030)	(0.031)	(0.031)	(0.031)	(0.030)
Average wage	0.208	0.136	0.188	0.137	0.342	0.202	0.${\mathrm{231}}^{***}$	0.${\mathrm{209}}^{***}$	0.${\mathrm{228}}^{***}$	0.${\mathrm{221}}^{***}$	0.${\mathrm{238}}^{***}$	0.${\mathrm{208}}^{***}$
($\log \left(w\right)$)	(0.220)	(0.233)	(0.221)	(0.224)	(0.235)	(0.257)	(0.071)	(0.069)	(0.071)	(0.072)	(0.072)	(0.071)
Year f.e.	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$
Industry f.e.	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$
Region f.e.	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$	$✓$
Observations	1,632	1,632	1,632	1,632	1,632	1,632	1,376	1,376	1,376	1,376	1,376	1,376
McFadden	0.2128	0.2265	0.2161	0.2153	0.2212	0.2367
AICc	1,635.9	1,619.1	1,633.9	1,635.0	1,626.6	1,612.7
Log-likelihood	−558.1	−548.4	−555.8	−556.3	−552.1	−541.1
$R^2$							0.324	0.343	0.325	0.324	0.324	0.344
Adjusted $R^2$							0.194	0.216	0.194	0.194	0.194	0.215
$F$ statistic							2.${\mathrm{490}}^{***}$	2.${\mathrm{699}}^{***}$	2.${\mathrm{487}}^{***}$	2.${\mathrm{481}}^{***}$	2.${\mathrm{480}}^{***}$	2.${\mathrm{665}}^{***}$
							(df = 222)	(df = 223)	(df = 223)	(df = 223)	(df = 223)	(df = 226)

For all models reported SEs are robust and clustered by region, and the four knowledge variables are expressed in SD units.*P<0.1; **P<0.05; ***P<0.01. SEs are in parentheses. df, degrees of freedom; f.e., fixed effects.