Table 5

Structural model results

Hypothesis and pathβt-valuep-valueR2 (endogenous)f2Q2
H1: DT → FRQ1.4714.695<0.0010.355Large>0
H2: DT → EE0.7246.583<0.0010.455Large>0
H3: EE → FRQ−0.2610.5850.559Negligible
H4: DT → EE → FRQ−0.189n.s.>0.05Negligible

Note(s): β = standardized path coefficient; t-values obtained via bootstrapping (5,000 resamples); p-values indicate two-tailed significance levels

R2 represents the coefficient of determination for endogenous constructs; Adjusted R2 accounts for model complexity

f2 indicates effect size, where 0.02 = small, 0.15 = medium, and 0.35 = large (Hair et al., 2023)

Q2 values were calculated using blindfolding procedures to assess predictive relevance; Q2 > 0 indicates predictive capability

Confidence intervals are bias-corrected and accelerated (BCa) at the 95% level

n = 40 firm-year observations (2019–2023)

Source(s): Authors' own work

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