Table 20

Robustness check: Model 1 implementing Size as an alternative measure of online visibility

Dependent variable: Size
(1)(2)(3)(4)(5)
Intercept−0.001−1.232***0.088−1.129***−1.265***
(0.098)(0.297)(0.112)(0.344)(0.288)
Equity_Agr1.218***0.977***  0.909***
(0.194)(0.176)  (0.166)
Partner_Agr  0.624***0.46**0.286*
  (0.202)(0.177)(0.149)
Blog −0.161 −0.058−0.13
 (0.201) (0.213)(0.199)
Social 0.751*** 0.693***0.695***
 (0.194) (0.2)(0.193)
Customer: business 0.187 0.2190.204
 (0.17) (0.193)(0.167)
Customer: consumer 0.303 0.423*0.351*
 (0.202) (0.228)(0.197)
Product: diversified 1.211** 1.325**1.147**
 (0.478) (0.601)(0.466)
Product: financing 0.233 0.0730.205
 (0.244) (0.286)(0.233)
Product: insurance 0.881*** 0.793*0.874***
 (0.316) (0.425)(0.314)
Product: investments 0.349 0.1240.324
 (0.274) (0.308)(0.266)
Age 0.073*** 0.09***0.073***
 (0.026) (0.025)(0.027)
N° observations124124124124124
F-stat36.27***9.185***9.476***6.125***8.739***
Adjusted R20.2230.40.0640.2940.409

Note(s): Linear regressions for the dependent variable Size. Standard errors are clustered at firm level. For the definition of all variables see Table 1. Significance levels: *, **, *** for 10%, 5% and 1%, respectively

Source(s): Table was created by the authors

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