Assessing the originators capabilities

To assess the originators capabilities, we run probit regressions with the dummy for successful projects as our dependent variable. Table 6 reports the 

Second, the results in Table 6 do not account for possible differences between the NBFs and the large firms in different types of iimovation projects. Table 7 then reports the sample averages of the probability of success for the large firms and the NBFs in our three risk categories Rl, R2, and R3. We report the results for both the sample of the US firms running US-based clinical trials, and for the full sample. 

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