Skip to main content

Table 2 Variable description

From: Business climate and firm exit in developing countries: evidence from Nigeria

Variable name

Description

Firm exit

Dummy variable equals 1 if the firm is considered to have exited the market at the time of the second survey round (2014); 0 otherwise

BCIndex

Business constraint index; a unit increase in the variable implies additional constraints to firm operations

Age (log)

Log of firm age; firm age equals the year of the first round survey minus the year the firm began operations

Size (log)

Log of firm size; firm size is the total number of the firm’s permanent employees at the end of the previous fiscal year

Managers exp (log)

Log of the number of years the firm's senior executive has worked in the industry

Export

Dummy variable equals 1 if the firm made non-national sales in the previous fiscal year; 0 otherwise

Foreign owners

Dummy variable equals 1 if the firm has a presence of foreign capital participation; 0 otherwise

Female owners

Dummy variable equals 1 if females are among the owners of the firm, 0 otherwise

Labour prod (log)

Log of labor productivity; labor productivity is the ratio of total annual sales to the total permanent workforce

Fixed asset

Dummy variable equals 1 if the firm borrowed from the bank to purchase fixed assets in the previous year, 0 otherwise

MSMEs

Dummy variable equals 1 if the business is a micro, small or medium enterprise, 0 otherwise

Industry

Industry dummies

Region

Regional dummies

Year

Year dummies