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      "text": "26 In the models, a one-unit increase in control-index decreases the natural logarithm of (one plus) capital raised by .306, which is equivalent to a decrease in (one plus) capital raised by 35.8%.\n27 In the models, a one-unit increase in control-index decreases the natural logarithm of (one plus) capital raised by .415, which is equivalent to a decrease in (one plus) capital raised by 51.4%.\n28 At the suggestion of an anonymous reviewer, I performed further analyses of the age effects...",
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      "text": "Tables 5 and 6 show the results of testing H3 (about capital intensity) and H4 (startup age). Regarding H3, across both dependent variables, the control-index remains highly significant (p<.01), but none of the interaction terms is statistically significant...",
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      "text": "The fixed-effect models control for the ex-ante \"quality\" of each startup. By focusing on changes within each firm over time, the empirical results are driven by firm decisions about control and resource attraction...",
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      "text": "fixed-effects model (Model 5), each one-unit increase in the control index decreases capital raised by 35.8%. In Model 6, the relationship between control and capital-raised is again consistently negative and highly significant...",
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