Hypothesis | Path | Sig. | Decision |
H1 | Environmental factors—Market development | 0.000 | Accepted |
H2 | Environmental factors—Low cost leadership | 0.007 | Accepted |
H3 | Environmental factors—Market segmentation | 0.353 | Rejected |
H4 | Environmental factors—Human capital development | 0.251 | Rejected |
H5 | Environmental factors—Innovation | 0.002 | Accepted |
H6 | Environmental factors—Product development | 0.002 | Accepted |
H7 | Environmental factors— Product diversification | 0.016 | Accepted |
H8 | Environmental factors—Forward and Backward Integration | 0.000 | Accepted |
H9 | Environmental factors—Retaliation to competition and defensive moves | 0.113 | Rejected |
H10 | Environmental factors—Research and development | 0.005 | Accepted |