Table 2

Estimation results

Model IModel IIModel III
(1)(2)(1)(2)(1)(2)
 Constant10.988**(3)2.59412.672***(3)3.20412.703***(3)3.226
1Hotel0.106**2.4800.081**2.0300.086**2.170
2Resta0.0320.7640.0380.9570.0401.023
3Tour0.145***3.9780.094***2.7680.093***2.738
4Transp0.097***2.9760.079***2.6000.082***2.708
5Size0.051*1.6520.051*1.7730.0441.510
6Age0.060*1.9570.068**2.3940.069**2.426
7QMC0.153***4.8530.078***2.6090.073**2.441
8Coop0.073**2.320−0.004−0.132−0.003−0.115
9ROA0.100***3.3080.0301.0320.0341.171
5Dyncap  0.356***11.7750.347***11.418
6Coorcap  0.105***3.4330.098***3.183
7FB  0.100***3.4900.101***3.473
10Dyncap × FB    −0.070**−2.398
11Coorcap × FB    0.0010.049
12Dyncap × Coorcap    0.059**2.024
 F11.451*** 24.261*** 20.391*** 
 R20.093 0.224 0.234 
 Adjusted R20.085 0.215 0.222 
 Changes in R2 0.132 0.009 

Note(s): (1) Standardized regression coefficients

(2) t-values

(3) Non-standardized beta

*p < 0.1, **p < 0.05, ***p < 0.01

Source(s): Own elaboration

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