Table 2. Fitted Difference-in-Differences Regression Coefficients of Seed-Stage Investment Probability by Industry, Compared With HCIT^a.

Variable	Regression coefficient, mean (SE)b
	All venture capital	Health (non–information technology)	Information technology (nonhealth)
After HITECH	0.095 (0.005)c	0.030 (0.009)c	0.169 (0.01)c
HCIT	−0.007 (0.018)	−0.008 (0.015)	−0.015 (0.019)
After HITECH × HCITd	0.051 (0.022)e	0.136 (0.019)f	−0.008 (0.024)g
t	0.006 (0.0005)c	0.004 (0.001)c	0.005 (0.001)c
Intercept	0.010 (0.003)c	0.018 (0.005)c	0.25 (0.005)c
Observations, No.	70 982	15 580	26 153
R2	0.052	0.03	0.083

Abbreviations: HCIT, health care information technology; HITECH, Health Information Technology for Economic and Clinical Health.

^aEach column compares the change in the proportion of seed-stage investments in HCIT companies with the change for a control group: the “all venture capital” column shows the comparison to the entire set of venture investments, and the “health (non–information technology)” and “information technology (nonhealth)” columns show the comparison with non–information technology health care investments and non-HCIT investments, respectively.

^bThe dependent variable in all regressions is the probability of an investment being seed stage.

^cP < .01.

^dThis row shows estimates for the primary association of interest, the additional fraction of health care IT seed-stage investments after the HITECH Act.

^eP = .02.

^fP < .001.

^gP = .75.