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Table 5 Estimation results from the competing risk models

From: The productivity of return migrants: the case of China’s “Sea Turtles”

  Simple hazard Latent survivor Cox proportional
   Fair Good Strat Unstrat
  Coef/Std Coef/Std Coef/Std Coef/Std Coef/Std
Foreign -0.43* -0.81* -0.31 -0.56 -0.60
  (0.21) (0.40) (0.25) (0.37) (0.38)
Experience -0.00 0.06 -0.02 0.03 0.03
  (0.02) (0.03) (0.02) (0.03) (0.03)
JointVenture -0.24 0.37 -0.47 0.96 0.99
  (0.23) (0.57) (0.28) (0.55) (0.56)
Offshore -0.25 0.66 -0.64* 1.61** 1.61**
  (0.25) (0.53) (0.31) (0.50) (0.51)
Syndicate 0.31*** -0.07 0.42*** -0.08 -0.05
  (0.09) (0.20) (0.10) (0.20) (0.20)
TotalFund 0.01 0.03* 0.00 0.03** 0.03**
  (0.00) (0.01) (0.00) (0.01) (0.01)
ExitRatio 0.19** -0.02 0.20* 0.10 0.10
  (0.07) (0.19) (0.09) (0.19) (0.20)
Tenure1 -0.02 -0.03 -0.01 -0.03 -0.03
  (0.01) (0.03) (0.01) (0.03) (0.03)
Roundsize 0.03 -0.01 0.05** -0.06 -0.06
  (0.02) (0.03) (0.02) (0.04) (0.04)
Tenure2 0.06* -0.04 0.07** -0.07 -0.06
  (0.02) (0.07) (0.03) (0.06) (0.06)
Development 0.68** 0.03 1.29*** 0.74*** 0.75***
  (0.22) (0.37) (0.32) (0.22) (0.22)
Expansion 1.11*** -0.57 1.88*** 1.21*** 1.20***
  (0.26) (0.73) (0.35) (0.26) (0.26)
LateStage 1.39** -35.17*** 2.30*** 1.54*** 1.53***
  (0.42) (2.32) (0.51) (0.42) (0.42)
Foreign ×G O O D     0.19 0.24
     (0.43) (0.44)
Experience ×G O O D     -0.04 -0.05
     (0.04) (0.04)
JointVenture ×G O O D     -1.46* -1.48*
     (0.58) (0.59)
Offshore ×G O O D     -2.41*** -2.39***
     (0.56) (0.56)
Syndicate ×G O O D     0.48* 0.45*
     (0.22) (0.22)
TotalFund ×G O O D     -0.02** -0.03**
     (0.01) (0.01)
ExitRatio ×G O O D     0.10 0.11
     (0.20) (0.21)
Tenure1 ×G O O D     0.02 0.02
     (0.03) (0.03)
Roundsize ×G O O D     0.11* 0.10*
     (0.05) (0.05)
Tenure2 ×G O O D     0.15* 0.13*
     (0.06) (0.06)
GOOD      0.92
      (0.51)
N 887 887 887 1774 1774
  1. * p < 0.05, ** p < 0.01, *** p < 0.001.
  2. G O O D = 1 if failure type of an observation is IPO, and it is included as a regressor in the unstratified model.
  3. Industry, region and year fixed effects are included in all regressions.