Executives of corporations are socially connected in many ways. Researchers are interested in how an executive's behaviour and incentive would be when they are well connected to the executives in other companies. Suppose we intend to focus on the social network built through MBA education, i.e., an executive is linked to another because they graduated from the same MBA program. Hence, we intend to study how a CEO's social connection built in MBA education might affect the firm that is managed by this CEO.

Describe how you will estimate a multivariate regression (which model you will choose and which control variables you will include). Explain the reasons for these choices.