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Table 5 Regression Results: HPWS, Entrepreneurial Orientation and Corporate Performance (Hypotheses 1, 2 & 3)

From: High performance work systems and corporate performance: the influence of entrepreneurial orientation and organizational learning

DV Corporate Performance Entrepreneurial Orientation
  Model 1 Model 2 Model 3 Model 4 Model 5 Model 6
Firm size 0.061 0.054 0.042 0.045 0.053 0.045
Industry type 0.125 0.080 0.102 0.077 0.065 0.013
Listed −0.627*** − 0.436** −0.538*** − 0.424** −0.242 − 0.058
Firm age −0.120* − 0.058 −0.020 − 0.016 −0.273*** − 0.204**
Ownership 0.088 0.012 0.051 0.004 0.099 0.041
HPWS   0.496***   0.413***   0.402***
EO    0.365*** 0.206*   
F 7.500*** 14.833*** 10.253*** 13.967*** 5.475*** 10.350***
F 7.333*** 2.753*** 3.714*** 4.875***
R 2 0.181 0.348 0.267 0.371 0.139 `0.271
R2 0.167 0.086 0.104 0.132
Mean VIF 1.46 1.44 1.46 1.49 1.46 1.44
  1. HPWS High performance work systems; EO Entrepreneurial orientation
  2. *p < 0.05; **p < 0.01 (two-tailed tests)