Table 5 Hierarchical regression analysis...

Table 5

Hierarchical regression analysis results

		Model 1	Model 2
Control variables	Firm size	−0.003	−0.042
		(−0.042)	(−0.599)
	Firm age	0.210***	0.175**
		(3.374)	(2.728)
	Exporting experience	0.175**	0.128*
		(2.728)	(1.992)
	Industry	0.014	0.041
		(0.232)	(0.646)
Main effect	Innovativeness (INV)		0.280***
			(4.492)
	Risk-taking (RS)		0.193***
			(3.391)
	Proactiveness (PR)		−0.115*
			(−1.751)
	Competitive aggressiveness (AG)		0.182**
			(3.182)
	Autonomy (AT)		0.242***
			(4.632)
R²		0.059	0.394
Adjusted R²		0.051	0.377
$∆$ R²			0.335***
F-value		7.745***	22.494***
∆F			26.371***

		Model 1	Model 2
Control variables	Firm size	−0.003	−0.042
		(−0.042)	(−0.599)
	Firm age	0.210***	0.175**
		(3.374)	(2.728)
	Exporting experience	0.175**	0.128*
		(2.728)	(1.992)
	Industry	0.014	0.041
		(0.232)	(0.646)
Main effect	Innovativeness (INV)		0.280***
			(4.492)
	Risk-taking (RS)		0.193***
			(3.391)
	Proactiveness (PR)		−0.115*
			(−1.751)
	Competitive aggressiveness (AG)		0.182**
			(3.182)
	Autonomy (AT)		0.242***
			(4.632)
R²		0.059	0.394
Adjusted R²		0.051	0.377
$∆$ R²			0.335***
F-value		7.745***	22.494***
∆F			26.371***

Note(s): *p < 0.05; **p < 0.01; ***p < 0.001. Standardized regression coefficients are used

Source(s): Survey data (2022)

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