BPhD - What does BPhD stand for? The Free Dictionary
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This implies estimating the expected research equation for the sample of non-HBCUs (Equation 2, excluding the HBCU dummy), then putting the fitted values of research output at HBCUs--if they had the non-HBCU research structure--into a production of black doctorates equation for the sample of HBCUs (Equation 5 with BPHD as the dependent variable).
BPHD is the number of black baccalaureate graduates of an HBCU who earned a doctorate in economics over the 1980-1996 period as reported in the National Science Foundations' Doctorate Records File.