Table 3 Regression models for firm...

Table 3

Regression models for firm performance

	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6	Model 7
Variables						Grid	Speed
Lagged firm performance	0.058	0.056	0.050	0.050	0.040	0.272***	0.029
Lagged firm performance	(0.036)	(0.036)	(0.036)	(0.036)	(0.036)	(0.037)	(0.029)
Partner quality	−0.004	−0.004	−0.004	−0.005	−0.004	−0.006+	−0.006
Partner quality	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.004)
Collaboration	1.089*	1.158**	1.108**	0.988*	0.897*	1.558**	1.865**
Collaboration	(0.423)	(0.428)	(0.426)	(0.423)	(0.423)	(0.505)	(0.635)
Partner status	−0.241	−0.494	−0.489	−0.684+	−0.758+	−0.439	−0.761*
Partner status	(0.186)	(0.399)	(0.373)	(0.409)	(0.411)	(0.432)	(0.317)
N. Firms supplied	0.527*	0.512*	0.482*	0.736**	0.757***	1.078***	1.422*
N. Firms supplied	(0.213)	(0.214)	(0.213)	(0.226)	(0.226)	(0.248)	(0.628)
Driver age	0.092*	0.089+	0.086+	0.075	0.065	0.137**	0.060
Driver age	(0.045)	(0.046)	(0.045)	(0.046)	(0.046)	(0.052)	(0.073)
Status		0.291	2.413*	−0.546	1.992+	0.571	−0.419
Status		(0.399)	(1.027)	(0.569)	(1.055)	(0.982)	(1.116)
Firm-specific uncertainty		0.780	0.155		−0.136	2.695**	1.856**
Firm-specific uncertainty		(0.692)	(0.706)		(0.726)	(0.951)	(0.608)
Partner-specific uncertainty		−0.016		0.595	0.907	2.615***	1.204
Partner-specific uncertainty		(0.651)		(0.673)	(0.684)	(0.767)	(0.976)
Firm-specific uncertainty × status			−2.491*		−3.306**	−3.667***	−1.744+
Firm-specific uncertainty × status			(1.077)		(1.113)	(1.088)	(0.972)
Partner-specific uncertainty × status				1.354*	1.806**	3.569***	3.435***
Partner-specific uncertainty × status				(0.641)	(0.650)	(0.658)	(0.951)
Intercept	−0.756	−1.308	−0.592	−1.066	−0.835	−1.055	185.897***
Intercept	(1.444)	(1.742)	(1.560)	(1.602)	(1.753)	(1.980)	(6.048)
Firm fixed effects	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Partner fixed effects	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Year × race fixed effects	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Observations	1,115	1,115	1,115	1,115	1,115	1,105	1,105
R-squared	0.501	0.502	0.505	0.504	0.510	0.792	0.959

	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6	Model 7
Variables						Grid	Speed
Lagged firm performance	0.058	0.056	0.050	0.050	0.040	0.272***	0.029
Lagged firm performance	(0.036)	(0.036)	(0.036)	(0.036)	(0.036)	(0.037)	(0.029)
Partner quality	−0.004	−0.004	−0.004	−0.005	−0.004	−0.006+	−0.006
Partner quality	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.004)
Collaboration	1.089*	1.158**	1.108**	0.988*	0.897*	1.558**	1.865**
Collaboration	(0.423)	(0.428)	(0.426)	(0.423)	(0.423)	(0.505)	(0.635)
Partner status	−0.241	−0.494	−0.489	−0.684+	−0.758+	−0.439	−0.761*
Partner status	(0.186)	(0.399)	(0.373)	(0.409)	(0.411)	(0.432)	(0.317)
N. Firms supplied	0.527*	0.512*	0.482*	0.736**	0.757***	1.078***	1.422*
N. Firms supplied	(0.213)	(0.214)	(0.213)	(0.226)	(0.226)	(0.248)	(0.628)
Driver age	0.092*	0.089+	0.086+	0.075	0.065	0.137**	0.060
Driver age	(0.045)	(0.046)	(0.045)	(0.046)	(0.046)	(0.052)	(0.073)
Status		0.291	2.413*	−0.546	1.992+	0.571	−0.419
Status		(0.399)	(1.027)	(0.569)	(1.055)	(0.982)	(1.116)
Firm-specific uncertainty		0.780	0.155		−0.136	2.695**	1.856**
Firm-specific uncertainty		(0.692)	(0.706)		(0.726)	(0.951)	(0.608)
Partner-specific uncertainty		−0.016		0.595	0.907	2.615***	1.204
Partner-specific uncertainty		(0.651)		(0.673)	(0.684)	(0.767)	(0.976)
Firm-specific uncertainty × status			−2.491*		−3.306**	−3.667***	−1.744+
Firm-specific uncertainty × status			(1.077)		(1.113)	(1.088)	(0.972)
Partner-specific uncertainty × status				1.354*	1.806**	3.569***	3.435***
Partner-specific uncertainty × status				(0.641)	(0.650)	(0.658)	(0.951)
Intercept	−0.756	−1.308	−0.592	−1.066	−0.835	−1.055	185.897***
Intercept	(1.444)	(1.742)	(1.560)	(1.602)	(1.753)	(1.980)	(6.048)
Firm fixed effects	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Partner fixed effects	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Year × race fixed effects	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Observations	1,115	1,115	1,115	1,115	1,115	1,105	1,105
R-squared	0.501	0.502	0.505	0.504	0.510	0.792	0.959

Note(s): Robust standard errors in parentheses, *** p < 0.001, ** p < 0.01, * p < 0.05, + p < 0.1

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