What happens to the log likelihood (or indeed the likelihood) function, when the MLE does not exist?
The log likelihood is defined (for independent observations) as
$$l(\boldsymbol{\theta}) = \Sigma_{i=1}^N\text{ln}(P(y_i|\mathbf{x}_i,\boldsymbol{\theta}))$$
where the sum is over the observations, the $y_i$ are the endogenous variable values and the $\mathbf{x_i}$ are the values of the covariates in the ith observation.
The maximum likelihood estimator is
$$\boldsymbol{\theta}^* = argmax_\boldsymbol{\theta} \ l(\boldsymbol{\theta})$$
with a corresponding log likelihood
$$l(\boldsymbol{\theta}^*) = max_\boldsymbol{\theta} \ \Sigma_{i=1}^N\text{ln}(P(y_i|\mathbf{x}_i,\boldsymbol{\theta}))$$
I understand that this may depend on the model, and perhaps even on the covariate distribution. I am particularly interested in the logistic regression with i.i.d. Gaussian covariates, however more general answers or answers for other models/distributions would be most welcome.