Varying-coefficient models are used to examine how time modifies initial risk factors in the newly founded firm. Start-up risk factors studied include the prevailing market, the experience and age of the founder, preparation before the firm launch, and the financial frame and legal form of the...

The varying-coefficient model allows to investigate and visualize the form of the interaction of variables in the predictor. Moreover, common approaches like semiparametric modeling and generalized linear models are special cases. The focus is on local estimators, in particular local likelihood...