A Social Network Analysis on Venture Capital Alliance’s Exit from an Emerging Market

Table 3

The results of regression analysis and robustness tests.

Variable	Main model	Robustness test 1	Robustness test 2
Sizei	0.219	0.223	0.220
	(3.484)	(3.489)	(3.485)
Experiencei	0.005	0.006	0.005
	(2.934)	(2.955)	(2.940)
MarketDepthi	1.578	1.588	1.572
	(3.332)	(3.333)	(3.317)
Roundi	0.239	0.242	0.239
	(1.256)	(1.269)	(1.258)
Compactnessi	−0.679	−0.677	−0.682
	(−3.443)	(−3.433)	(−3.453)
Heterogeneityi	1.256	1.245	1.263
	(2.399)	(2.375)	(2.406)
Cohesioni	−0.263	−0.269	−0.264
	(−1.721)	(−1.748)	(−1.723)
Relationshipi	−0.345	−0.353	−0.365
	(−1.762)	(−1.775)	(−1.774)
Yeart	Included	Included	Included
Industryi	Included	Included	Included
Pseudo R^2	0.248	0.249	0.249

Notes: N = 496; coefficients are shown and robust t-values are in parentheses; significance level: ; ; .