Similarly, only 18 percent report any MBA experience
and 16 percent report advanced technological
degrees (D BACH, D MBA, D MASTTECH,
respectively, Table 3).18
Absolute size
We record the total number of named executives
listed in the business planning documents.
We exclude individuals associated solely with the
board of directors or other advisory roles. The distribution
of team size is skewed; hence, in the
regressions we use the natural log of (1+) team
size. For brevity we refer to this as TEAM SIZE.
Since we are interested in whether the inclusion of
information is also predictive, we include a dummy
variable D MGMT TEAM. This also eliminates
problems associated with arbitrary scaling when
taking the natural log, as the dummy distinguishes
between 0 and ln(1).
Entrepreneurial experience
From the summary biographies we extract work
histories, prior entrepreneurial experience, and