These are the sections commonly referred to in entrepreneurship textbooks (cf. Timmons and Spinelli, 2007: 229; or Baron and Shane, 2005: 169). PLAN COMPLETE is the number of these sections identifiable in the plan.In coding this information, we used only business plans, private placement memoranda, or executive summaries because our goal was to measure conformity to document conventions rather than the existence of the underlying information in the request. The mean number of sections identifiable in the plans was 4.7. A standard deviation of 3.6 indicates significant variation in this variable