Table 3 Results of the hierarchical...

Table 3

Results of the hierarchical regression analysis (low ecosystem support)

	Dependent variable: venture performance
	Low ecosystem support (≤mean)
Variables	Model 1a	Model 2a	Model 3a	Model 4a
Constant	3.620***	2.475***	3.943***	7.038***
Firm age	−0.030	−0.007	−0.009	−0.014
Firm size (ln employees)	0.173**	0.172**	0.175**	0.172**
Founding team size	−0.007	−0.008	−0.013	−0.010
Founding team female share	0.001	−0.020	−0.005	0.008
Venture capital (dummy)	0.043	−0.014	0.004	−0.012
Cooperation SME (dummy)	−0.151	−0.167	−0.164	−0.154
Cooperation F500 (dummy)	0.393***	0.414***	0.418***	0.428***
Uncertainty	−0.193**	−0.150*	−0.159**	−0.172**
Causation		0.326***	−0.077	−1.631**
Effectuation		−0.056	−0.535*	−0.797*
Causation × Effectuation			0.135*	0.181**
Causation²				0.202**
Effectuation²				0.012
R²	0.122	0.180	0.187	0.205
△R²		0.057	0.008	0.017
Adj. R²	0.106	0.161	0.167	0.181
F-test	7.698***	9.628***	9.202***	8.654***
△F		15.348***	4.239*	4.770**

	Dependent variable: venture performance
	Low ecosystem support (≤mean)
Variables	Model 1a	Model 2a	Model 3a	Model 4a
Constant	3.620***	2.475***	3.943***	7.038***
Firm age	−0.030	−0.007	−0.009	−0.014
Firm size (ln employees)	0.173**	0.172**	0.175**	0.172**
Founding team size	−0.007	−0.008	−0.013	−0.010
Founding team female share	0.001	−0.020	−0.005	0.008
Venture capital (dummy)	0.043	−0.014	0.004	−0.012
Cooperation SME (dummy)	−0.151	−0.167	−0.164	−0.154
Cooperation F500 (dummy)	0.393***	0.414***	0.418***	0.428***
Uncertainty	−0.193**	−0.150*	−0.159**	−0.172**
Causation		0.326***	−0.077	−1.631**
Effectuation		−0.056	−0.535*	−0.797*
Causation × Effectuation			0.135*	0.181**
Causation²				0.202**
Effectuation²				0.012
R²	0.122	0.180	0.187	0.205
△R²		0.057	0.008	0.017
Adj. R²	0.106	0.161	0.167	0.181
F-test	7.698***	9.628***	9.202***	8.654***
△F		15.348***	4.239*	4.770**

Note(s): N = 451; ***p < 0.001; **p < 0.01; *p < 0.05; †p < 0.1 (two-tailed)

Source(s): Authors’ own work

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