Random-effects GLS regression results
| DV: Firm performance—ROA | Hypothesis | Model V | Model VI |
|---|---|---|---|
| Main effect | |||
| Heterogeneous collaborative networkt−1 (β1) | 0.097** (0.045) | 0.059 (0.054) | |
| Moderator | |||
| Family managementt−1 (β21) | 0.013 (0.021) | −0.012 (0.029) | |
| IPRt−1 (β22) | 0.085** (0.038) | 0.020 (0.091) | |
| Interaction effect | |||
| Heterogeneous collaborative networkt−1 × family managementt−1 (β31) | 0.044 (0.035) | ||
| Heterogeneous collaborative networkt−1 × IPRt−1 (β32) | 0.031 (0.095) | ||
| Family managementt−1 × IPRt−1 (β33) | 0.003 (0.023) | ||
| Heterogeneous collaborative networkt−1 × family managementt−1 × IPRt−1 (β34) | H3 (+) | 0.138** (0.068) | |
| Controls | |||
| Firm size | −0.001 (0.030) | −0.003 (0.030) | |
| Firm seniority | −0.157** (0.065) | −0.154** (0.065) | |
| Internationalisation | 0.181* (0.109) | 0.184* (0.109) | |
| Diversification | 0.064 (0.081) | 0.075 (0.081) | |
| Firm leverage | −0.804***(0.158) | −0.799***(0.158) | |
| CBP | 0.002 (0.002) | 0.002 (0.002) | |
| Industry and year dummies | Included | Included | |
| Intercept | 1.505***(0.220) | 1.527***(0.221) | |
| Number of observations | 3,963 | 3,963 | |
| R2 within, between, overall | 0.02;0.06;0.06 | 0.03;0.07;0.06 | |
| Wald chi-square | 122.03*** | 140.38*** | |
| DV: Firm performance—ROA | Hypothesis | Model V | Model VI |
|---|---|---|---|
| Heterogeneous collaborative network | 0.097** (0.045) | 0.059 (0.054) | |
| Family management | 0.013 (0.021) | −0.012 (0.029) | |
| IPR | 0.085** (0.038) | 0.020 (0.091) | |
| Heterogeneous collaborative network | 0.044 (0.035) | ||
| Heterogeneous collaborative network | 0.031 (0.095) | ||
| Family management | 0.003 (0.023) | ||
| Heterogeneous collaborative network | 0.138** (0.068) | ||
| Firm size | −0.001 (0.030) | −0.003 (0.030) | |
| Firm seniority | −0.157** (0.065) | −0.154** (0.065) | |
| Internationalisation | 0.181* (0.109) | 0.184* (0.109) | |
| Diversification | 0.064 (0.081) | 0.075 (0.081) | |
| Firm leverage | −0.804***(0.158) | −0.799***(0.158) | |
| CBP | 0.002 (0.002) | 0.002 (0.002) | |
| Industry and year dummies | Included | Included | |
| Intercept | 1.505***(0.220) | 1.527***(0.221) | |
| Number of observations | 3,963 | 3,963 | |
| 0.02;0.06;0.06 | 0.03;0.07;0.06 | ||
| Wald chi-square | 122.03*** | 140.38*** | |
Note(s): DV = Dependent variable. Robust standard errors in parentheses. ***p < 0.01., **p < 0.05., *p < 0.10