Research Article
The Complex Impact of Relational Embeddedness on Enterprise Value: The Moderating Effect of Environmental Dynamics
Table 6
Summary of robust test results.
| | Variable | M1 | M2 | M3 | M4 | M5 | M6 | M7 |
| | Size | 0.068 (0.158) | 0.088 (0.159) | 0.073 (0.158) | 0.087 (0.160) | 0.072 (0.157) | 0.075 (0.159) | 0.046 (0.156) | | FL | 0.004 (0.001) | 0.004 (0.001) | 0.004 (0.001) | 0.004 (0.001) | 0.004 (0.001) | 0.004 (0.001) | 0.004 (0.001) | | LEV | −1.796 (0.753) | −1.402 (0.834) | −1.813 (0.770) | −1.731 (0.776) | −1.442 (0.804) | −1.392 (0.805) | −1.910 (0.723) | | OC | 0.902 (1.559) | 0.726 (1.572) | 0.913 (1.563) | 0.951 (1.557) | 0.831 (1.563) | 0.831 (1.556) | 0.862 (1.547) | | EBD | 0.093 (0.973) | 0.279 (0.980) | 0.078 (0.974) | 0.095 (0.971) | 0.286 (0.975) | 0.384 (0.978) | 0.159 (0.970) | | CD | 5.66e-07 (1.75e-07) | 4.73e-07 (1.90e-07) | 5.66e-07 (1.77e-07) | 5.53e-07 (1.79e-07) | 5.96e-07 (1.77e-07) | 5.64e-07 (1.79e-07) | 6.42e-07 (1.73e-07) | | PROA | −2.724 (2.046) | −1.744 (2.127) | −2.701 (2.105) | −2.654 (2.100) | -2.005 (2.075) | −2.058 (2.055) | −2.962 (2.079) | | ETR | 0.202 (0.088) | 0.201 (0.074) | 0.203 (0.088) | 0.210 (0.083) | 0.220 (0.079) | 0.224 (0.073) | 0.237 (0.084) | | RE | 0.010 (0.006) | 0.016 (0.007) | 0.010 (0.006) | 0.021 (0.010) | 0.006 (0.006) | 0.023 (0.010) | 0.009 (0.006) | | RE2 | | −0.172 (0.098) | | −0.0002 (0.0001) | | −0.0006 (0.0002) | | | RIC | | | | | | | 6.672 (3.889) | | MED | | | −0.221 (0.494) | 0.181 (0.580) | | | | | REMED | | | −0.016 (0.010) | | | | | | RE2MED | | | | −0.0005 (0.0002) | | | | | TED | | | | | 0.465 (0.286) | 0.613 (0.345) | | | RETED | | | | | −0.039 (0.021) | | | | RE2TED | | | | | | −0.002 (0.001) | | | F | 9.43 | 8.91 | 8.13 | 8.57 | 8.83 | 8.44 | 10.75 |
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Note: standard error in brackets, , , |
