Table 1 Random effects Probit regression... | Emerald Publishing

Table 1

Random effects Probit regression results: innovation and decision to export in family firms

Variables	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6
Intercept	−1.9936***	−2.0265***	−2.0008***	−1.9973***	−2.0197***	−2.033***
MARKINN		0.2709***				0.1806***
ORGINN			0.1402**			−0.0245
PRODINN				0.3433***		0.2365***
PROCINN					0.206***	0.1250**
SOLVENCY	0.0021**	0.0022**	0.0022**	0.0022**	0.0023**	0.0024**
AGE	0.0059***	0.0058***	0.0061***	0.0060***	0.0061***	0.0060***
FOROWNER	0.0065***	0.0065***	0.0066***	0.0063***	0.0064***	0.0063***
SIZE	0.5787***	0.5703***	0.5708***	0.5601***	0.5580***	0.5493***
MARGIN	0.0024*	0.0025*	0.0024*	0.0025**	0.0020	0.0023*
Log Likelihood	−2225.81	−2214.42	−2222.78	−2212.53	−2217.43	−2204.62
Wald χ²	952.78***	948.46***	956.73***	939.68***	960.13***	946.74***
Pseudo R²	0.2502	0.254	0.2512	0.2547	0.253	0.2573
N (observ.)	5,038	5,038	5,038	5,038	5,038	5,038

Variables	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6
Intercept	−1.9936***	−2.0265***	−2.0008***	−1.9973***	−2.0197***	−2.033***
MARKINN		0.2709***				0.1806***
ORGINN			0.1402**			−0.0245
PRODINN				0.3433***		0.2365***
PROCINN					0.206***	0.1250**
SOLVENCY	0.0021**	0.0022**	0.0022**	0.0022**	0.0023**	0.0024**
AGE	0.0059***	0.0058***	0.0061***	0.0060***	0.0061***	0.0060***
FOROWNER	0.0065***	0.0065***	0.0066***	0.0063***	0.0064***	0.0063***
SIZE	0.5787***	0.5703***	0.5708***	0.5601***	0.5580***	0.5493***
MARGIN	0.0024*	0.0025*	0.0024*	0.0025**	0.0020	0.0023*
Log Likelihood	−2225.81	−2214.42	−2222.78	−2212.53	−2217.43	−2204.62
Wald χ²	952.78***	948.46***	956.73***	939.68***	960.13***	946.74***
Pseudo R²	0.2502	0.254	0.2512	0.2547	0.253	0.2573
N (observ.)	5,038	5,038	5,038	5,038	5,038	5,038

Note(s): *p < 0.1, **p < 0.05, ***p < 0.01. All models include industry and year dummies as control variables

Source(s): Authors’ own work