The Influence Mechanism of Knowledge Heterogeneity of Venture Capital Syndication on Innovation Performance of Entrepreneurial Firms: Evidence from China

Table 6

Moderating Effect of equity structure.

Main	(1)	(2)	(3)	(4)	(5)
	Patapply	Patapply	Patapply	Patapply	VAIC
KHS	−0.118 (0.038)				0.486 (0.028)
KHSES	0.431 (0.060)				−1.492 (0.044)
ES	−0.604 (0.048)	−0.695 (−11.396)	−0.557 (−13.738)	−0.409 (−12.030)	0.965 (0.032)
MKH		−0.128 (−4.533)
MKHES		0.350 (7.189)
IKH			−0.393 (−7.600)
IKHES			0.708 (8.694)
TKH				−0.009 (−0.406)
TKHES				0.152 (4.385)
_Cons	−1.048 (0.435)	−1.124 (0.433)	−1.124 (0.438)	−1.090 (0.434)	−11.270 (0.299)
Controls	Y	Y	Y	Y	Y
Industry	Y	Y	Y	Y	Y
Province	Y	Y	Y	Y	Y
Year	Y	Y	Y	Y	Y
N	348	348	348	348	348
R^2	0.223	0.222	0.223	0.222	0.530

Standard errors are reported in parentheses .