Table 7. Regression model for enterprises that do not exit under a 50% systemic shock scenario (Corrected Akaike’s Information Criterion score = 49.31).

Variable B S.E. Wald Sig. Odds Ratio
Human capital measured as the confidence of owners and managers in the ability of an enterprises’ key staff to successfully adapt to future changes 1.764 0.784 5.02 0.03* 5.79
Enterprise age in years (natural logarithm) 0.7081 0.413 2.93 0.09 2.03
Constant -9.575 3.35 7.73 0.05 0.00

* = p value of < 0.05