Table 11. Relationship between staying rich and business ownership. Results for marginal
effects based on random effects probit estimations of yearly transitions, for two
definitions of owners of small businesses. Quintile and decile specifications, standard
errors in parentheses
|
Quintile specification |
Decile specification | |||
|
Owners of small |
Owners of small |
Owners of small |
Owners of small | |
|
Ownership of small |
-0.011 (0.001) |
-0.004 (0.001) |
0.011 (0.002) |
0.016 (0.002) |
|
Age |
0.002 (1.0×10-4) |
0.002 (1.0×10-4) |
0.003 (1.6×10-4) |
0.003 (1.6×10-4) |
|
Male |
0.150 (0.002) |
0.150 (0.002) |
0.173 (0.003) |
0.172 (0.003) |
|
Married |
0.018 (0.001) |
0.018 (0.001) |
0.046 (0.002) |
0.045 (0.002) |
|
Dummy for children |
0.072 (0.001) |
0.072 (0.001) |
0.071 (0.002) |
0.071 (0.002) |
|
Urban areas |
0.077 (0.001) |
0.077 (0.001) |
0.080 (0.002) |
0.081 (0.002) |
|
Not born W-Europe, |
-0.122 (0.005) |
-0.122 (0.005) |
-0.109 (0.008) |
-0.109 (0.008) |
|
Length of education |
0.035 (2.3×10-4) |
0.035 (2.3×10-4) |
0.036 (3.7×10-4) |
0.036 (3.7×10-4) |
|
General progr. |
0.057 (0.003) |
0.057 (0.003) |
0.078 (0.005) |
0.078 (0.005) |
|
Humanities and arts |
0.048 (0.003) |
0.048 (0.003) |
0.068 (0.005) |
0.068 (0.005) |
|
Teacher training and |
-0.038 (0.004) |
-0.038 (0.004) |
-0.015 (0.006) |
-0.016 (0.006) |
|
Social sciences and |
-0.033 (0.004) |
-0.034 (0.004) |
0.018 (0.006) |
0.018 (0.006) |
|
Business and |
0.072 (0.002) |
0.072 (0.002) |
0.101 (0.004) |
0.101 (0.004) |
|
Natural sciences |
0.048 (0.003) |
0.048 (0.003) |
0.045 (0.005) |
0.045 (0.005) |
|
Health, welfare and |
0.052 (0.003) |
0.051 (0.003) |
0.099 (0.004) |
0.098 (0.004) |
|
Primary industries |
0.016 (0.003) |
0.015 (0.003) |
0.046 (0.005) |
0.046 (0.005) |
|
Transport and |
0.021 (0.003) |
0.020 (0.003) |
0.024 (0.005) |
0.024 (0.005) |
|
Rho |
0.405 (0.002) |
0.446 (0.001) |
0.416 (0.002) |
0.416 (0.002) |
|
LR-test of rho=0 |
Prob>=0.000 |
Prob>=0.000 |
Prob>=0.000 |
Prob>=0.000 |
4.3.2 Alternative categorizations of time periods
So far, it has been established that business ownership increases the likelihood of upward mobility and
stability at the high end of the income distribution scale (the latter only established for the decile
26
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