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

Table 6.21. Models of Interest Rate Charged
Specification
1a) All Loans (as in Column 5 of
Table 6.18) n=765
1b) All Loans (as in Column 5 of
Table 6.19) n=765
Source: See Table 6.18.
African
American
1.064
(2.66)
1.234
(2.69)
Statistical Disparities in Capital Markets
African
American*
ENC
Asian/
Pacific
Islander
Hispanic
Nonminority
Female
NERA Economic Consulting 222
–
-2.199
(1.53)
0.559
(1.49)
0.576
(1.31)
-0.088
(0.23)
0.136
(0.30)
-0.501
(1.93)
-0.302
(1.06)
Notes: (1) Each line of this table represents a separate regression with all of the control variables. (2) The sample
consists of firms that had applied for a loan and had their application approved.
Table 6.22. Racial Differences in Failing to Apply for Loans Fearing Denial
a) U.S.
Specification
No Other Control Variables
(n=3,448)
Full Set of Control Variables (n=3,448)
b) ENC division
No Other Control Variables
(n=565)
Full Set of Control Variables (n=560)
c) Construction
No Other Control Variables
(n=613)
Full Set of Control Variables (n=609)
Source: See Table 6.18.
African
American
0.353
(11.90)
0.208
(7.04)
0.252
(3.05)
0.015
(0.59)
0.371
(5.06)
0.273
(3.69)
Asian/
Pacific
Islander
0.046
(1.48)
-0.012
(0.43)
0.018
(0.21)
0.018
(0.60)
0.117
(1.43)
0.099
(1.32)
Hispanic
0.173
(5.77)
0.052
(1.87)
0.342
(2.16)
0.059
(0.93)
0.020
(0.26)
-0.062
(1.13)
Non-minority
Female
0.051
(2.55)
0.011
(0.59)
-0.003
(0.05)
0.009
(0.51)
0.122
(2.08)
0.038
(0.74)
Notes: (1) Reported estimates are Probit derivatives with t-statistics in parentheses. (2) Full set of control variables
as in Column 5 of Table 6.18, except for loan amount, year of application, and type of lender.