Table VIII Statistics of hypotheses...

Table VIII

Statistics of hypotheses

	Sales turnover		Market share		Profitability
Variables	β	t	β	t	β	t
H1
Constant	–	6.548***	–	6.933***	–	7.425**
AGE	0.023	0.398	−0.044	−0.359	−0.127	−0.446
SIZE	0.019	0.736	0.009	0.547	0.016	0.697
IND	0.073	1.263**	0.139	1.941**	−0.008	−1.897
TR	0.194	2.745***	0.078	1.367**	0.379	3.055***
IR	0.236	2.988***	0.122	2.174**	0.475	3.269***
Model 1 (w/out IR)
R²	0.126		0.089		0.139
F	2.345*		1.438**		2.998***
Model 2 (with IR)
R²	0.157		0.104		0.181
ΔR² (change in R²)	0.031		0.015		0.042
F	2.761*		1.663*		3.586**
H2
Constant	–	6.239***	–	6.128***	–	7.298**
AGE	0.019	0.364	−0.062	−0.386	−0.045	−0.239
SIZE	0.004	0.547	0.052	0.603	0.013	0.655
IND	0.056	1.092**	0.116	1.897*	−0.014	−1.933
TR	0.178	2.431**	0.063	1.184**	0.204	2.446**
CAP	0.304	3.247**	0.156	2.105**	0.498	3.507**
Model 1 (w/out CAP)
R²	0.126		0.089		0.139
F	2.345*		1.438**		2.998***
Model 2 (with CAP)
R²	0.149		0.118		0.214
ΔR² (change in R²)	0.023		0.029		0.075
F	2.598*		1.742**		4.136**
H3
Constant	–	6.933***	–	7.632***	–	8.038***
AGE	0.006	0.286	0.002	0.252	0.003	0.206
SIZE	0.013	0.654	0.052	0.495	−0.013	−0.449
IND	0.064	1.213***	0.103	1.619**	0.028	1.553
IR	0.276	3.134*	0.147	2.336**	0.287	2.165**
CAP	239	3.002*	0.135	2.228**	0.363	3.198**
Model 1 (w/out CAP)
R²	0.151		0.103		0.176
F	2.767***		1.665**		3.459***
Model 2 (with CAP)
R²	0.165		0.124		0.203
ΔR² (change in R²)	0.014		0.021		0.027
F	2.087**		1.865**		3.631***
H4
Constant	–	5.196***	–	4.875***	–	5.683***
AGE	0.005	0.411	−0.006	−0.312	−0.004	−0.373
SIZE	0.017	0.623	0.003	0.431	0.008	0.505
IND	−0.029	−1.784**	−0.054	−1.863**	−0.011	−1.442
TR	0.126	1.532*	0.056	1.418**	0.109	1.769*
IR	0.143	1.878**	0.152	1.965**	0.262	2.477**
CAP	0.129	1.645**	0.121	1.629**	0.311	2.881**
Model 1 (w/out CAP)
R²	0.157		0.104		0.181
F	2.761*		1.663*		3.586***
Model 2 (with CAP)
R²	0.166		0.116		0.209
ΔR² (change in R²)	0.009		0.012		0.028
F	2.330		2.017**		2.884**

	Sales turnover		Market share		Profitability
Variables	β	t	β	t	β	t
H1
Constant	–	6.548***	–	6.933***	–	7.425**
AGE	0.023	0.398	−0.044	−0.359	−0.127	−0.446
SIZE	0.019	0.736	0.009	0.547	0.016	0.697
IND	0.073	1.263**	0.139	1.941**	−0.008	−1.897
TR	0.194	2.745***	0.078	1.367**	0.379	3.055***
IR	0.236	2.988***	0.122	2.174**	0.475	3.269***
Model 1 (w/out IR)
R²	0.126		0.089		0.139
F	2.345*		1.438**		2.998***
Model 2 (with IR)
R²	0.157		0.104		0.181
ΔR² (change in R²)	0.031		0.015		0.042
F	2.761*		1.663*		3.586**
H2
Constant	–	6.239***	–	6.128***	–	7.298**
AGE	0.019	0.364	−0.062	−0.386	−0.045	−0.239
SIZE	0.004	0.547	0.052	0.603	0.013	0.655
IND	0.056	1.092**	0.116	1.897*	−0.014	−1.933
TR	0.178	2.431**	0.063	1.184**	0.204	2.446**
CAP	0.304	3.247**	0.156	2.105**	0.498	3.507**
Model 1 (w/out CAP)
R²	0.126		0.089		0.139
F	2.345*		1.438**		2.998***
Model 2 (with CAP)
R²	0.149		0.118		0.214
ΔR² (change in R²)	0.023		0.029		0.075
F	2.598*		1.742**		4.136**
H3
Constant	–	6.933***	–	7.632***	–	8.038***
AGE	0.006	0.286	0.002	0.252	0.003	0.206
SIZE	0.013	0.654	0.052	0.495	−0.013	−0.449
IND	0.064	1.213***	0.103	1.619**	0.028	1.553
IR	0.276	3.134*	0.147	2.336**	0.287	2.165**
CAP	239	3.002*	0.135	2.228**	0.363	3.198**
Model 1 (w/out CAP)
R²	0.151		0.103		0.176
F	2.767***		1.665**		3.459***
Model 2 (with CAP)
R²	0.165		0.124		0.203
ΔR² (change in R²)	0.014		0.021		0.027
F	2.087**		1.865**		3.631***
H4
Constant	–	5.196***	–	4.875***	–	5.683***
AGE	0.005	0.411	−0.006	−0.312	−0.004	−0.373
SIZE	0.017	0.623	0.003	0.431	0.008	0.505
IND	−0.029	−1.784**	−0.054	−1.863**	−0.011	−1.442
TR	0.126	1.532*	0.056	1.418**	0.109	1.769*
IR	0.143	1.878**	0.152	1.965**	0.262	2.477**
CAP	0.129	1.645**	0.121	1.629**	0.311	2.881**
Model 1 (w/out CAP)
R²	0.157		0.104		0.181
F	2.761*		1.663*		3.586***
Model 2 (with CAP)
R²	0.166		0.116		0.209
ΔR² (change in R²)	0.009		0.012		0.028
F	2.330		2.017**		2.884**

Notes: *p<0.05; **p<0.01; ***p<0.001

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