The entrepreneur-CEO indicator ECEO is the endogenous variable, and the set of exogenous variables in Controls includes firm size, ownership type, regulation, an international entrepreneur, competition, the country control variable (HDI), and indicator variables for rating agency and calendar year.
The second step is to estimate equation 1 with the IV method using Z as an instrument for ECEO.
The propensity score is the probability that the MFI is an ECEO, conditional on available covariates.
The first step in the IV regression implementation of the Heckman (1978) dummy endogenous variable model is to generate an instrument for the endogenous variable ECEO.
ECEO recorded twelve different types of voting violations across Egypt in total, which included violence, intimidation, barring people with disabilities from entering polling stations, absence of judicial supervision, late opening of polling stations, voting influence, deceased yet registered voters, mass voter transportation and campaigning.
Minor scuffles resulting from the late opening of voting stations and voter persuasion were also reported at several polling stations in Giza, while supporters and opponents of the constitution clashed in Port Said and Qaliubiya on Saturday, ECEO reported.
The ECEO includes 123 development and human rights' civil society organizations, in 26 governorates throughout Egypt.
Both the ECEO and the Carter Center will be observing the next two rounds of voting in Egypt's parliamentary elections in the coming weeks.