Table 4.

Path analysis and structural equation modeling

Predicting variablesVariablesInnovationCompetitive advantageFinancial performance
Direct effectIndirect effectTotal effectDirect effectIndirect effectTotal effectDirect effectIndirect effectTotal effect
CSRA0.466***–0.466***0.552***–0.552***0.212*0.328**0.539***
Innovation––––––0.028**–0.028**
Competitive advantage––––––0.570**–0.570**

Notes:

*

= p < 0.05,

**

= p < 0.01,

***

= p < 0.001

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