the capital of Ethiopia, are, on average, approximately double the size of the WEDP businesses studied in Mekelle.

The selection into the training suggests that women entrepreneurs who choose to take-up business training in Ethiopia are either those who believe they need more help with their business operations and/or those who have a lower opportunity cost of attending a 10/20-day classroom training program, since their businesses are smaller and less profitable.

# TABLE 3: CHARACTERISTICS OF THE TRAINEES

|||<br>DOT|<br>study||<br>|<br> <br>PI/BSE|<br>D study|<br>|
|---|---|---|---|---|---|---|---|---|
|Test of differences of training participants<br>and non-participants|Mean for the DOT<br>study sample|Participated in<br>the training|Offered but did<br>not participate|Diff. in Means (2)-<br>(3)|<br>Mean for PI/BSED<br>sample|<br>Participated in<br>the training|Offered but did not<br>participate|<br>Diff. in Means<br>(6)-(7)|
||(1)|(2)|(3)|(4)|(5)|(6)|(7)|(8)|
|Age of Owner (years)|33.22|34.81|32.62|2.18***|35.84|36.53|35.28|1.24***|
||(8.06)|(8.29)|(7.89)|(0.64)|(8.92)|(8.39)|(9.53)|(0.48)|
|Digitspan score (0-7)|2.27|2.11|2.34|-0.23**|2.82|2.84|2.77|0.07|
||(1.19)|(1.14)|(1.20)|(0.10)|(1.28)|(1.28)|(1.24)|(0.07)|
|Education Secondary or Tertiary|0.69|0.59|0.73|-0.13***|0.86|0.88|0.85|0.03|
||(0.46)|(0.49)|(0.45)|(0.04)|(0.35)|(0.32)|(0.35)|(0.02)|
|Number of hours worked per week|74.70|73.49|75.16|-1.66|49.37|50.08|49.17|0.91|
||(22.61)|(22.07)|(22.81)|(1.80)|(25.95)|(26.08)|(25.91)|(1.36)|
|Log monthly profits|7.13|6.72|7.29|-0.57***|7.82|7.70|7.95|-0.25|
||(2.48)|(2.54)|(2.45)|(0.20)|(2.90)|(2.72)|(2.93)|(0.15)|
|Average monthly profits (Birr)|4828.31|3536.41|5317.07|-1780.66***|11712.35|8892.91|13546.24|-4653.33***|
||(8066.32)|(6850.48)|(8435.10)|(646.13)|(18983.62)|(14064.04)|(21681.07)|(1006.88)|
|Average monthly revenues (Birr)|40479.77|31055.05|44053.52|-12998.47|63460.81|47876.61|72259.66|-24383.04***|
||(111616.49)|(101716.00)|(115031.66)|(8933.27)|(139363.11)|(105969.80)|(151643.19)|(7178.31)|
|Revenues in a typical month (Birr)|45457.03|41710.24|46876.86|-5166.62|239071.81|188272.56|272355.81|-84083.26**|
||(120781.41)|(124061.49)|(119595.08)|(9654.83)|(647762.50)|(554187.00)|(722679.19)|(35536.40)|
|Average monthly business costs (Birr)|36685.54|29435.45|39388.74|-9953.29|66297.74|54334.82|75856.45|-21521.62***|
||(95958.52)|(91919.84)|(97360.30)|(7629.12)|(139552.83)|(118415.95)|(153679.20)|(7344.93)|
|Number of employees|1.40|1.17|1.49|-0.32|4.40|3.88|4.99|-1.12***|
||(2.47)|(2.19)|(2.57)|(0.20)|(7.47)|(6.02)|(8.73)|(0.41)|
|Capital stock at business start (Birr)|44907.83|22363.58|54296.85|-31933.27**|296180.59|271736.13|342888.44|-71152.31|
||(153288.52)|(53616.98)|(178360.81)|(13662.18)|(988730.38)|(1011316.44)|(1068306.00)|(54731.53)|
|Save in a bank|0.62|0.54|0.64|-0.10**|0.63|0.61|0.62|-0.01|
||(0.49)|(0.50)|(0.48)|(0.04)|(0.48)|(0.49)|(0.49)|(0.03)|
|Household Asset Index (0-8)|5.67|5.47|5.74|-0.27**|6.58|6.46|6.64|-0.17***|
||(1.35)|(1.34)|(1.35)|(0.11)|(1.20)|(1.23)|(1.20)|(0.06)|
|Joint test||||0.01||||0.01|
|Number of Observations|799|208|191||2,001|619|888||

# **4.2 ARE PSYCHOLOGICAL CONSTRUCTS RELATED TO ECONOMIC SUCCESS?**

The main claim underpinning the use of mindset-oriented business trainings is that the psychological skills and mindset taught by the training are important for economic success. Table 4 validates this claim by