Research Article
The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics
Table 5
The moderating effects of market and technology environmental dynamics.
| | Variable | M1 | M3 | M2 | M4 | M5 | M6 |
| | Size | 0.092 (0.132) | 0.096 (0.132) | 0.104 (0.132) | 0.108 (0.132) | 0.103 (0.131) | 0.112 (0.133) | | FL | 0.004 (0.001) | 0.004 (0.001) | 0.003 (0.001) | 0.003 (0.001) | 0.004 (0.001) | 0.003 (0.001) | | LEV | −1.573 (0.660) | −1.478 (0.674) | −1.453 (0.664) | −1.385 (0.678) | −1.271 (0.713) | −1.229 (0.716) | | OC | 1.132 (1.228) | 1.167 (1.234) | 1.188 (1.221) | 1.222 (1.225) | 1.067 (1.227) | 1.175 (1.221) | | EBD | −0.008 (0.858) | −0.074 (0.858) | 0.076 (0.847) | 0.005 (0.848) | 0.155 (0.848) | 0.248 (0.846) | | CD | 5.88e-07 (1.51e-07) | 5.65e-07 (1.54e-07) | 5.61e-07 (1.55e-07) | 5.45e-07 (1.57e-07) | 6.19e-07 (1.52e-07) | 5.85e-07 (1.55e-07) | | PROA | −0.933 (1.779) | −0.883 (1.746) | −0.901 (1.765) | −0.867 (1.738) | −0.351 (1.768) | −0.349 (1.740) | | ETR | 0.213 (0.090) | 0.208 (0.089) | 0.221 (0.083) | 0.217 (0.083) | 0.232 (0.082) | 0.239 (0.077) | | RE | 0.009 (0.005) | 0.008 (0.005) | 0.023 (0.009) | 0.023 (0.009) | 0.006 (0.005) | 0.023 (0.009) | | RE2 | | | −0.0003 (0.0001) | −0.0003 (0.0001) | | −0.0003 (0.0001) | | MED | | −0.533 (0.331) | | −0.197 (0.397) | | | | REMED | | −0.010 (0.007) | | | | | | RE2MED | | | | −0.0004 (0.0002) | | | | TED | | | | | 0.460 (0.287) | 0.481 (0.308) | | RETED | | | | | −0.035 (0.015) | | | RE2TED | | | | | | −0.0005 (0.0002) | | F | 7.31 | 6.41 | 7.17 | 7.63 | 7.31 | 7.25 |
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Note: standard error in brackets, , , , N = 612. |
