Table 2 Random effects Tobit regression... | Emerald Publishing

Table 2

Random effects Tobit regression results: innovation and export intensity in family firms

Variables	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6
Intercept	−22.6343***	−22.5441***	−22.6838***	−22.4373***	−22.8951***	−22.4163***
MARKINN		−1.0232				−3.4779***
ORGINN			1.729**			1.2401
PRODINN				3.4085***		3.1914***
PROCINN					3.5857***	3.2618***
SOLVENCY	0.0170	0.0167	0.0182	0.0177	0.0199	0.0203
AGE	0.0977***	0.0977***	0.0984***	0.0962***	0.0979***	0.0982***
FOROWNER	0.0812***	0.0812***	0.0822***	0.0822***	0.0824***	0.0812***
SIZE	6.3745***	6.4351***	6.2466***	6.1010***	5.9669***	5.8618***
MARGIN	0.0980***	0.0976***	0.0977***	0.0988***	0.0919***	0.0917***
Wald χ²	1547.47***	1548.94***	1551.66***	1561.18***	1569.22***	1588.18***
Pseudo R²	0.324	0.324	0.324	0.326	0.328	0.332
Sigma	24.26	24.26	24.25	24.23	24.21	24.16
N (observ.)	5,032	5,032	5,032	5,032	5,032	5,032

Variables	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6
Intercept	−22.6343***	−22.5441***	−22.6838***	−22.4373***	−22.8951***	−22.4163***
MARKINN		−1.0232				−3.4779***
ORGINN			1.729**			1.2401
PRODINN				3.4085***		3.1914***
PROCINN					3.5857***	3.2618***
SOLVENCY	0.0170	0.0167	0.0182	0.0177	0.0199	0.0203
AGE	0.0977***	0.0977***	0.0984***	0.0962***	0.0979***	0.0982***
FOROWNER	0.0812***	0.0812***	0.0822***	0.0822***	0.0824***	0.0812***
SIZE	6.3745***	6.4351***	6.2466***	6.1010***	5.9669***	5.8618***
MARGIN	0.0980***	0.0976***	0.0977***	0.0988***	0.0919***	0.0917***
Wald χ²	1547.47***	1548.94***	1551.66***	1561.18***	1569.22***	1588.18***
Pseudo R²	0.324	0.324	0.324	0.326	0.328	0.332
Sigma	24.26	24.26	24.25	24.23	24.21	24.16
N (observ.)	5,032	5,032	5,032	5,032	5,032	5,032

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