Exploring Coinvestment Partner Selection Strategies Using Exponential Random Graph Models

Table 4

Correlation analysis.

Variable	Mean	Sd.	1	2	3	4	5	6
(1). Geographical distance between PEs	0.12	0.21
(2). Industry distance between PEs	0.09	0.23	0.05
(3). Relationship embeddedness	0.05	0.09	−0.21	−0.10
(4). Structural embeddedness	0.14	0.34	−0.11	−0.17	0.35
(5). Marketization index	5.12	2.42	−0.43	−0.27	0.31	0.48
(6). Tendency to invest in high-tech enterprises	0.35	0.17	−0.23	−0.14	0.26	0.34	0.20