The State of Minority- and Women- Owned ... - Cleveland.com

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Table 6.13. Models of Interest Rate Charged—USA Specification 1) All loans (controls as in Column 5, Table 6.8) 2) No credit problems 3) Proprietorships and Partnerships 4) Corporations 5) Fewer than 10 Employees 6) 10 or More Employees 7) Local 8) Regional, National, or International Source: See Table 6.1. African American 1.034 (3.72) 1.187 (3.27) 1.735 (2.57) 0.660 (2.04) 1.200 (2.58) 0.450 (1.15) 0.751 (1.55) 1.544 (4.26) Asian/ Pacific Islander Statistical Disparities in Capital Markets Native American 0.413 -0.427 (1.37) (0.63) Creditworthiness 0.485 0.910 (1.33) (1.07) Organization Type 0.826 (1.03) 2.589 (0.90) 0.359 -0.585 (1.07) (0.86) 1993 Firm Size -0.247 (0.41) -0.010 (0.01) 0.446 -0.197 (1.21) (0.25) Scope of Sales Market -0.073 (0.13) 1.185 (2.93) 1.773 (1.12) -1.368 (1.85) Hispanic 0.517 (1.97) 0.435 (1.48) 1.008 (1.74) 0.491 (1.53) 0.783 (1.75) 0.515 (1.37) 0.805 (2.05) 0.392 (0.96) Nonminority Female 0.025 (0.14) 0.129 (0.66) -0.239 (0.53) 0.127 (0.66) -0.311 (1.02) 0.164 (0.77) 0.324 (1.08) -0.163 (0.73) Sample Size Notes: (1) Reported estimates are Ordinary Least Squares (OLS) coefficients, t-statistics in parentheses. (2) Each line of this table represents a separate regression with all of the control variables as Column 5 of Table 6.8 (except where specified) as well as: an indicator variable for whether the loan request was for a fixed interest rate loan, the length of the loan, the size of the loan, whether the loan was guaranteed, whether the loan was secured by collateral, and 7 variables identifying the type of collateral used if the loan was secured. (3) The sample consists of firms that had applied for a loan and had their application approved. (4) “No credit problems” means that neither the firm nor the owner had been delinquent on payments over 60 days, no judgments against the owner for the preceding 3 years, and the owner had not been bankrupt in the preceding 7 years. NERA Economic Consulting 208 1,454 1,137 364 1,090 574 880 633 821
Statistical Disparities in Capital Markets Table 6.14 shows results for the ENC. Findings are similar to those observed for the nation as a whole. Table 6.14. Models of Interest Rate Charged—ENC Specification 1) All loans (controls as in Column 5, Table 6.8) 2) No credit problems 3) Proprietorships and Partnerships 4) Corporations 5) Fewer than 10 Employees 6) 10 or More Employees 7) Local 8) Regional, National, or International Source: See Table 6.1. Notes: See Table 6.13. African American 0.763 (2.51) 1.121 (2.80) 1.786 (2.35) 0.423 (1.23) 0.728 (1.38) 0.467 (1.18) 0.486 (0.88) 1.345 (3.51) African American * ENC 1.576 (2.29) 0.576 (0.65) 0.735 (0.49) 1.684 (1.93) 1.925 (1.85) 0.168 (0.11) Asian/ Pacific Islander 0.446 (1.40) Creditworthiness 0.550 (1.43) Organization Type 0.748 (0.90) 0.413 (1.15) 1993 Firm Size -0.316 (0.51) 0.519 (1.37) Scope of Sales Market 1.607 (1.57) 1.395 (1.27) -0.133 (0.23) 1.298 (3.05) Native American Hispanic -0.801 (1.02) 0.539 (0.56) 2.008 (0.70) -0.828 (1.13) -0.899 (0.61) -0.437 (0.48) 1.404 (0.89) -1.844 (2.04) G. Loan Approval Rates and Access to Credit 0.609 (2.26) 0.564 (1.87) 1.103 (1.92) 0.635 (1.93) 0.801 (1.75) 0.613 (1.63) 0.971 (2.40) 0.493 (1.21) Nonminority Female 0.023 (0.12) 0.143 (0.64) -0.276 (0.57) 0.166 (0.75) -0.394 (1.20) 0.238 (0.92) 0.329 (1.01) -0.217 (0.82) Sample Size The results presented so far may be biased toward finding too small a disparity between nonminority- and African American-owned firms because those minority-owned firms that actually apply for credit may represent a selected sample of the most creditworthy. More marginal minority-owned firms whose loans may have been accepted had they been owned by nonminorities may not even be among the pool of loan applicants. First, these firms may have gone out of business or may not have had the opportunity to commence operations because of their inability to obtain capital. Second, some existing firms may have chosen not to apply for credit because they were afraid their application would be rejected due to prejudice. Although we have no direct evidence regarding the first proposition, data from the 1993 NSSBF provide some evidence for the second: African American- and Hispanic-owned firms are much NERA Economic Consulting 209 1,454 1,137 364 1,090 574 880 633 821
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The State of Minority- and Women- O
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About the Project Team NERA Economi
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Notice This report sets forth the i
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Contents C. Race and Gender Dispari
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List of Tables Table 4.5. Services
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List of Tables Table 5.14. Disparit
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List of Tables Table 7.10. M/WBE Ut
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List of Tables Table 8.10. Percent
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List of Tables Table AC.32. Industr
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C. Defining the Relevant Markets Ex
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Table A. Overall Current Availabili
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Executive Summary disparity analysi
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Executive Summary • A greater sha
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Executive Summary Table C. Utilizat
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Contracting Category/ M/WBE Type Ex
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Executive Summary contract performa
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I. Introduction Introduction The Ci
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Legal Standards for Government Affi
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B. Preparing the Master Contract/Su
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Defining the Relevant Markets Table
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• Franklin County, OH (Columbus)
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NAICS Industry Group NAICS Descript
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Defining the Relevant Markets In AE
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NAICS Industry Group 8112 5412 5324
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NAICS Industry Group Source: See Ta
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NAICS Industry Group 4233 NAICS Des
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M/WBE Availability in the City of C
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NAICS Industry Group M/WBE Availabi
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Detailed Industry Group Navigationa
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Table 4.24. Detailed M/WBE Availabi
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Detailed Industry Group M/WBE Avail
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Detailed Industry Group General Med
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Detailed Industry Group Machine Sho
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Detailed Industry Group Products Me
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Table 4.28. Detailed DBE Availabili
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Table 4.30. Detailed DBE Availabili
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Market-Based Disparities in Busines
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M/WBE Utilization and Disparity in
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Anecdotal Evidence of Disparities i
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Blanchflower, D. G., P. Levine and
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References Fairlie, R. W. (1999),
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References Ladd, H. F. (1998), “E
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References U.S. Census Bureau (2004
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Appendix A. Glossary Demand-side: R
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Appendix A. Glossary NSSBF or SSBF.
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Appendix B. Master M/WBE Directory
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Appendix B. Master M/WBE Directory
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Appendix C. Detailed Utilization, A
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NERA Economic Consulting Barton Cre
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