Hey,

I have a sample of start-ups and want to check if the probability of an Exit (IPO or M&A) increase if there is a special investor participate.

I have a cross-sectional data set with the start-ups, the investor type (A, B, and C), a dummy which equals one if the start-up had an exit, and the total funding amount. Furthermore, I have another data set with the funding rounds of each company and the money raised in the specific round.

Right now I run:

Code:
 probit exit investor_A investor_B total_funding_amount i.firstfundingyear, vce (robust) ]
Because I have the funding rounds and the specific year of the funding round, I also thought about a panel regression. On the other hand, exit is time invariant and always 0 or 1 for the specific company. Furthermore, the investor type is also time invariant and the funding amount respectively the money raised is the only thing that changes over time.

Does it make sense to run xtprobit if the dependent variable is time invariant. And if yes, how can I implement in stata?

Kind regards
Alex