Table 3 Regression results – Depth of... | Emerald Publishing

Table 3

Regression results – Depth of internationalization

	ROA		AMV
	(1)	(2)	(3)	(4)
Depth	0.074**	−0.131	−0.113	−3.367*
Depth	(0.022)	(0.167)	(0.268)	−1.964
Depth*Depth		0.137		2.184*
Depth*Depth		(0.118)		−1.302
Firm size	0.026***	0.025***	−0.051	−0.069
Firm size	(0.005)	(0.006)	(0.053)	(0.0548)
Leverage	−0.121***	−0.121***	−1.347***	−1.358***
Leverage	(0.025)	(0.025)	(0.264)	(0.265)
R&D	0.020	0.026	2.693**	2.774**
R&D	(0.095)	(0.095)	−1.087	−1.095
Firm age	0.0032	0.003	−0.508***	−0.506***
Firm age	(0.011)	(0.011)	(0.121)	(0.122)
Family share	0.011	0.013	−0.658**	−0.618**
Family share	(0.022)	(0.022)	(0.269)	(0.272)
Constant	−0.046	0.0301	3.341***	4.552***
Constant	(0.048)	(0.079)	(0.482)	(0.880)
Observations	641	641	641	641
R-squared	0.078	0.080	0.102	0.106

	ROA		AMV
	(1)	(2)	(3)	(4)
Depth	0.074**	−0.131	−0.113	−3.367*
Depth	(0.022)	(0.167)	(0.268)	−1.964
Depth*Depth		0.137		2.184*
Depth*Depth		(0.118)		−1.302
Firm size	0.026***	0.025***	−0.051	−0.069
Firm size	(0.005)	(0.006)	(0.053)	(0.0548)
Leverage	−0.121***	−0.121***	−1.347***	−1.358***
Leverage	(0.025)	(0.025)	(0.264)	(0.265)
R&D	0.020	0.026	2.693**	2.774**
R&D	(0.095)	(0.095)	−1.087	−1.095
Firm age	0.0032	0.003	−0.508***	−0.506***
Firm age	(0.011)	(0.011)	(0.121)	(0.122)
Family share	0.011	0.013	−0.658**	−0.618**
Family share	(0.022)	(0.022)	(0.269)	(0.272)
Constant	−0.046	0.0301	3.341***	4.552***
Constant	(0.048)	(0.079)	(0.482)	(0.880)
Observations	641	641	641	641
R-squared	0.078	0.080	0.102	0.106

Source(s): Authors’ own work