Table 3 Hierarchical regression results:...

Table 3

Hierarchical regression results: the moderation effect of legitimacy brokerage and network activities on the new venture legitimacy diffusion beyond existing EE

	Legitimacy Diffusion beyond existing EE
	1	2	3	4
gen	−0.068 (0.225)	−0.074 (0.221)	−0.158 (0.215)	−0.079 (0.223)
age	0.002 (0.012)	0.001 (0.011)	0.006 (0.011)	0.003 (0.011)
edu	0.353 (0.345)	0.415 (0.341)	0.589° (0.330)	0.475 (0.345)
indst	0.047 (0.065)	0.044 (0.064)	0.087 (0.063)	0.077 (0.065)
exper	0.012 (0.011)	0.015 (0.011)	0.016 (0.010)	0.014 (0.011)
fimag	0.015° (0.008)	0.013 (0.007)	0.017* (0.007)	0.014 (0.007)
fimsiz	0.003* (0.002)	0.002 (0.001)	0.003 (0.001)	0.002 (0.001)
PLL		−0.107 (0.124)	−0.087 (0.117)	−0.124 (0.119)
ALL		0.290** (0.083)	0.128** (0.048)	0.120** (0.051)
LB			0.187° (0.113)	0.221° (0.118)
NET			0.237** (0.084)	0.190* (0.089)
PLL × LB				0.141° (0.081)
ALL × LB				0.055* (0.028)
PLL × NET				0.021** (0.008)
ALL × NET				0.073** (0.023)
F-test	1.56	2.38*	2.57**	2.14*
R²	0.13	0.18	0.28	0.32
Adj R²	0.05	0.08	0.17	0.17
Δ R²		0.05*	0.10***	0.04°

	Legitimacy Diffusion beyond existing EE
	1	2	3	4
gen	−0.068 (0.225)	−0.074 (0.221)	−0.158 (0.215)	−0.079 (0.223)
age	0.002 (0.012)	0.001 (0.011)	0.006 (0.011)	0.003 (0.011)
edu	0.353 (0.345)	0.415 (0.341)	0.589° (0.330)	0.475 (0.345)
indst	0.047 (0.065)	0.044 (0.064)	0.087 (0.063)	0.077 (0.065)
exper	0.012 (0.011)	0.015 (0.011)	0.016 (0.010)	0.014 (0.011)
fimag	0.015° (0.008)	0.013 (0.007)	0.017* (0.007)	0.014 (0.007)
fimsiz	0.003* (0.002)	0.002 (0.001)	0.003 (0.001)	0.002 (0.001)
PLL		−0.107 (0.124)	−0.087 (0.117)	−0.124 (0.119)
ALL		0.290** (0.083)	0.128** (0.048)	0.120** (0.051)
LB			0.187° (0.113)	0.221° (0.118)
NET			0.237** (0.084)	0.190* (0.089)
PLL × LB				0.141° (0.081)
ALL × LB				0.055* (0.028)
PLL × NET				0.021** (0.008)
ALL × NET				0.073** (0.023)
F-test	1.56	2.38*	2.57**	2.14*
R²	0.13	0.18	0.28	0.32
Adj R²	0.05	0.08	0.17	0.17
Δ R²		0.05*	0.10***	0.04°

Note(s): gen, gender; edu, education; indst, industry; exper, experience; fimag, firm's age; fimsiz, firm's size; N = 228, in parentheses are the standard errors. ° p < 0.10, *p < 0.05, **p < 0.01, ***p < 0.001

Source(s): Authors’ own work

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