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Table 6 Correlates of maize traders’ profitability in Malawi

From: Performance, behaviour and organization of maize trading in Malawi

  Posterior with informative prior Posterior with reference prior OLS with bootstrapping
Mean SD p(B ≠ 0) Mean SD p(B ≠ 0) Coef. Std. Err. Bias
Variables (1) (2) (3) (4) (5) (6) (7) (8) (9)
Registered business (yes = 1) .829 .254 .997 .826 .272 .988 .653* .369 .001
Has export licence (yes = 1) 1.475 .323 1.000 1.515 .332 1.000 1.611*** .433 − .009
Runs other businesses (yes = 1) .047 .122 .256 .050 .126 .275 .222 .191 − .014
Multiple market function (yes = 1) − 1.336 .279 1.000 − 1.354 .286 1.000 − 1.297*** .285 .016
Trader is male (yes = 1) 1.060 .334 .997 1.086 .345 .992 1.156*** .287 − .011
Log no. family members .391 .156 .981 .389 .170 .951 .421*** .164 .001
Log asset replacement record 2.756 .736 .999 2.783 .757 .998 2.688*** 1.011 .001
Log time searching market info − .037 .082 .296 − .042 .088 .327 − .194* .120 − .013
Log business age (years) − .001 .051 .115 − .003 .066 .182 − .287 .211 − .027
Log geographical coverage (km) .371 .094 1.000 .379 .097 .999 .439*** .113 .005
Log no. friends running business − .063 .105 .404 − .066 .108 .411 − .287*** .103 − .003
Log no. of traders from region .033 .085 .249 .040 .094 .291 .232* .141 .011
Log no. of distant traders .644 .118 1.000 .648 .120 1.000 .722*** .124 .008
Log experience with broker (years) .079 .163 .327 .094 .179 .352 .392 .266 .013
Christian Catholic − 1.121 .415 .989 − .110 .468 .956 − 1.310*** .516 .002
Christian Protestant − 1.200 .376 .997 − .119 .424 .985 − 1.410*** .475 .011
Moslem − 1.676 .447 1.000 − .164 .484 .997 − 2.172*** .585 .006
Chichewa − .015 .157 .140 − .015 .160 .141 .116 .548 .062
Chiyao .108 .313 .229 .107 .314 .224 .702 .665 .065
Chilomwe − .027 .191 .139 − .029 .197 .143    
Market FE YES    YES    YES   
District FE YES    YES    YES   
Seasonal FE YES    YES    YES   
No. of traders 172    172    172   
  1. Dependent variable: Natural log of profit as: ln(Sales revenue − Variable costs). SD = standard deviation
  2. Baseline for religion is no religion while Chisena is for trader tribe
  3. *Significantly different from zero at 90 percent confidence
  4. **Significantly different from zero at 95 percent confidence
  5. ***Significantly different from zero at 99 percent confidence