Variables

Corporate Performance

Model 1

Model 2

Model 3

Model 4

Constants

−0.166

−0.268

−0.284

−0.981

A

−0.042

−0.051

−0.047

−0.027

D

0.195*

0.185*

0.128+

0.096

S

−0.003

−0.049

−0.031

0.008

IND

YES

YES

YES

YES

Ha

0.059

0.113

0.174*

Ht

0.134+

−0.031

−0.069

H1

−0.131+

−0.240**

−0.200*

Ha2

0.142+

0.511***

Ht2

−0.252*

−0.163+

H12

−0.190*

−0.130+

L

−0.285*

Ha × L

0.287***

Ht × L

0.198

H1 × L

−0.088

Ha2 × L

0.705***

Ht2 × L

−0.301+

H12 × L

−0.028

Adjusted R2

0.320

0.343

0.417

0.563

△R2

−−

0.036

0.077

0.142

△F

−−

2.315+

5.632**

6.934***

F

4.760***

4.515***

5.165***

6.678***