Table IV

Group means for main effect analysis

DIVHong KongUSAChina
Repurchase intentionCompensation
 Low2.323.042.58
 High3.063.603.19
 Proactiveness
 Passive2.413.022.47
 Proactive3.003.573.29
LegitimacyCompensation
 Low4.024.353.53
 High4.594.714.26
 Proactiveness
 Passive3.733.993.54
 Proactive4.924.994.23

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