Variable

Synergy effect

Inter-firm value co-creation

M1

M2

M3

M4

M5

Information technology level

0.657***

-

-

0.438***

Information exchange level

-

0.685***

-

-

0.588***

Synergy effect

-

-

0.664***

-

-

R²

0.432***

0.469***

0.440***

0.191***

0.346

ΔR²

-

-

-

-

-

F

80.467

***

93.636

***

83.404***

25.104***

56.119

***