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*** |