Variable

Inter-firm value co-creation

M4

M5

M6

M7

Information technology level

0.438***

-

0.003

-

Information exchange level

-

0.588***

-

0.252

Synergy effect

-

-

0.662***

0.491***

R²

0.191***

0.346***

0.440***

0.474***

ΔR²

-

-

0.249

0.128

F

25.104***

56.119***

41.310***

47.331***