Table 5

Mediation effect size of process innovation

Indirect effectVariance explainedSize of the mediation effect
R2 includedR2 excludedR2 variance explained(f2)
Hybrid Strategy → Process
Innovation → Firm Performance
0.370.340.030.05 (small effect)

Note(s):f2 = (R2 included – R2 excluded)/(1 – R2 included); effect sizes of f2 ≥ 0.02, ≥0.15, and ≥0.35 are small, medium and large, respectively (Cohen, 1988)

Source(s): Authors’ own elaboration

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