**Table 8: Impact on A, E, and Access to K**

|Entrepreneurial<br>Self‐Efficacy|Has a<br>Mentor|Number in<br>Business<br>Network|Firm is<br>Formal|Took a<br>Formal<br>Loan|Received<br>Equity<br>Investment|Aggregate<br>Outcome<br>Index|
|---|---|---|---|---|---|---|
|**Panel A: New Firms**|||||||
|Unconditional Experimental Impacts:|||||||
|First‐Follow‐up<br>0.226|0.206***|0.563***|0.084***|‐0.003|‐0.005|0.185***|
|(0.179)|(0.032)|(0.216)|(0.021)|(0.006)|(0.010)|(0.035)|
|Second Follow‐up<br>0.045|0.381***|1.709***|0.382***|0.003|0.026**|0.460***|
|(0.175)|(0.028)|(0.210)|(0.028)|(0.009)|(0.012)|(0.035)|
|Third Follow‐up<br>0.300*|0.334***|1.711***|0.368***|0.015|0.001|0.417***|
|(0.180)|(0.032)|(0.235)|(0.032)|(0.012)|(0.010)|(0.042)|
|Impacts Conditional on Business in Operation|||||||
|First‐Follow‐up<br>0.071|0.044|‐0.371|0.075**|‐0.011|‐0.022|0.031|
|(0.218)|(0.033)|(0.293)|(0.030)|(0.010)|(0.016)|(0.042)|
|Second Follow‐up<br>‐0.033|0.063**|0.411*|0.323***|‐0.008|0.017|0.188***|
|(0.206)|(0.025)|(0.247)|(0.034)|(0.012)|(0.015)|(0.037)|
|Third Follow‐up<br>0.204|0.041|0.438|0.295***|0.001|‐0.013|0.205***|
|(0.208)|(0.033)|(0.275)|(0.037)|(0.014)|(0.013)|(0.042)|
|Control Mean: First follow‐up<br>4.765|0.429|2.029|0.067|0.011|0.029|‐0.070|
|Control Mean: Second follow‐up<br>5.523|0.445|1.879|0.114|0.018|0.017|‐0.162|
|Control Mean: Third follow‐up<br>5.513|0.443|1.964|0.126|0.022|0.020|‐0.152|
|Obs: First follow‐up<br>973|995|992|995|995|995|997|
|Obs: Second follow‐up<br>997|1071|1071|1071|1071|1071|1071|
|Obs: Third follow‐up<br>859|857|857|857|857|857|979|
|**Panel B: Existing Firms**<br>Unconditional Experimental Impacts:|||||||
|First‐Follow‐up<br>0.003|0.114***|0.762**|0.082**|‐0.025|0.026|0.111**|
|(0.259)|(0.040)|(0.347)|(0.041)|(0.017)|(0.019)|(0.050)|
|Second Follow‐up<br>0.015|0.150***|1.082***|0.310***|‐0.039**|0.030|0.227***|
|(0.257)|(0.038)|(0.337)|(0.043)|(0.020)|(0.023)|(0.050)|
|Third Follow‐up<br>‐0.245|0.085**|0.828**|0.242***|0.001|0.001|0.138**|
|(0.238)|(0.043)|(0.340)|(0.050)|(0.025)|(0.018)|(0.064)|
|Impacts Conditional on Business in Operation|||||||
|First‐Follow‐up<br>0.006|0.046|0.483|0.065|‐0.030|0.024|0.044|
|(0.269)|(0.036)|(0.361)|(0.045)|(0.019)|(0.021)|(0.048)|
|Second Follow‐up<br>‐0.112|0.027|0.544|0.277***|‐0.049**|0.023|0.100**|
|(0.267)|(0.033)|(0.348)|(0.047)|(0.023)|(0.025)|(0.048)|
|Third Follow‐up<br>‐0.190|‐0.013|0.380|0.204***|‐0.007|‐0.003|0.081|
|<br>(0.251)|(0.040)|(0.346)|(0.053)|(0.028)|(0.020)|(0.057)|
|Control Mean: First follow‐up<br>5.135|0.726|3.095|0.184|0.042|0.026|‐0.066|
|Control Mean: Second follow‐up<br>5.507|0.719|3.059|0.226|0.063|0.045|‐0.125|
|Control Mean: Third follow‐up<br>6.034|0.736|3.356|0.307|0.061|0.031|‐0.100|
|Obs: First follow‐up<br>418|423|423|423|423|423|423|
|Obs: Second follow‐up<br>448|458|458|458|458|458|458|
|Obs: Third follow‐up<br>392|372|372|372|372|372|413|

Notes: Control means shown are unconditional means Aggregate outcome index is the average of standardized z‐scores of the other columns. Robust standard errors in parentheses, *, **, *** indicate significance at the 10, 5, and 1 percent levels. Experimental estimates are ITT estimates and control for randomization strata.

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