RESULTS
We now analyze the form and content of the
planning documents. As mentioned in the Data
section, we condition the remainder of the analysis
on the request being socially mediated and drop
the 302 unsolicited requests.21 This leaves 761
requests in the sample. We report pairwise correlations
in Table 5 and our central regression results
in Tables 6 and 7. We use a rare-events logit
methodology: Only 31 of the 601 firms (5.2%)
that submitted any planning document eventually
received funding. Moreover, only 20 of the 329
firms (6.1%) that included management team information
in their solicitations eventually received
funding