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Estimating Unobserved Complementarities between Entrepreneurs and Venture Capitalists (view source)
Revision as of 16:45, 18 July 2019
, 16:45, 18 July 2019→Rebuilding Marcos
Table 5 gives some LPMs before and after a Lasso. The hqdist variable was first transformed so that hqdist = hqdist/1000. Note that the matchhqdist variable is bimodal. Matchbodist is also bimodal but not as strongly. The second spike in the distribution is just over 4000km, which is the arc distance from San Francisco to Boston (4335km [https://www.distance.to/Boston/San-Francisco])
Again the data is just a single synthetic for each real. In this analysis, Marcos also clusters the standard errors at the year level, but does not use any fixed effects. The labels in the pdf are somewhat misleading. The translation is as followsmargin command reports only the covariates not the interactions, unless you specifically generate the variables. If Marcos had of ran just the variables without the interactions, we would have produced markedly different margins. The margins in table 6 column 1 of the pdf are coming from the following: PDF -> Marcos variable -> New Variablesource
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hdqist -> c.hqdist##c.hqdist
firmtenure -> c.serials##c.firmtenure
patentsprevc -> c.patentsprevc##c.firmtenure
Note that STATA uses ## to report both main effects for each variable as well as an interaction, so c.hqdist##c.hqdist reports both hqdist and hqdist^2, while c.serials##c.numprevportco reports serials, numprevportco, and serials*numprevportco. Variables are omitted when duplicated as in c.serials##c.numprevportco and c.patentsprevc##c.numprevportco, which both report numprevportco.
===Notes from Conference Call===
