From: TMT social capital, network position and innovation: the nature of micro-macro links
 | M1’ | M2’ | M3’ | M4’ | M5’ | M6’ | M7’ | M8’ | M9’ | M10’ | M11’ | M12’ |
---|---|---|---|---|---|---|---|---|---|---|---|---|
INNOVATION | INNOVATION | PRESTIGE | POWER | INNOVATION | INNOVATION | INNOVATION | INNOVATION | INNOVATION | INNOVATION | INNOVATION | INNOVATION | |
OVERSEA_C | Â | 4.012*** | 0.034** | 0.026** | 3.917*** | 3.877*** | Â | Â | Â | Â | 3.835*** | 3.773*** |
 | −3.08 | −2.57 | − 2.31 | − 3 | − 2.97 |  |  |  |  | −3 | −2.97 | |
PRESTIGE | Â | Â | Â | Â | 2.773** | Â | 2.923** | Â | 2.946** | Â | 2.798** | Â |
 |  |  |  | −2.21 |  | − 2.34 |  | −2.4 |  | −2.28 |  | |
POWER | Â | Â | Â | Â | Â | 5.245*** | Â | 5.405*** | Â | 5.279*** | Â | 5.122*** |
 |  |  |  |  | −3.48 |  | −3.58 |  | −3.6 |  | −3.5 | |
BANK_C | Â | Â | Â | Â | Â | Â | Â | Â | 167.168*** | 163.442*** | 166.455*** | 162.749*** |
 |  |  |  |  |  |  |  | −4.18 | −4.28 | −4.15 | − 4.26 | |
PRESTIGE ×BANK_C |  |  |  |  |  |  |  |  | 55.273*** |  | 55.265*** |  |
 |  |  |  |  |  |  |  | −3.24 |  | −3.22 |  | |
POWER×BANK_C |  |  |  |  |  |  |  |  |  | 74.876*** |  | 74.806*** |
 |  |  |  |  |  |  |  |  | −3.7 |  | −3.68 | |
SOE | −95.800*** | − 105.012*** | −0.848*** | − 0.404 | − 102.661*** | − 102.891*** | −93.551*** | −93.932*** | −86.389*** | −87.231*** | − 95.325*** | − 95.966*** |
(−4.26) | (−4.53) | (−2.88) | (− 1.64) | (− 4.43) | (− 4.45) | (− 4.16) | (− 4.18) | (− 3.88) | (− 3.92) | (−4.14) | (− 4.18) | |
SCALE | 62.793*** | 59.253*** | 0.150*** | 0.148*** | 58.838*** | 58.474*** | 62.267*** | 61.869*** | 60.066*** | 59.990*** | 56.716*** | 56.694*** |
−14.1 | −13.42 | −3.04 | − 3.59 | − 13.39 | − 13.36 | −14.06 | − 14.03 | − 13.89 | − 13.93 | −13.35 | − 13.4 | |
AGE | −0.803 | −1.122 | 0.007 | 0.01 | −1.143* | −1.177* | − 0.832 | −0.87 | − 0.838 | − 0.903 | −1.143* | − 1.203* |
(−1.18) | (− 1.64) | − 0.81 | −1.36 | (− 1.67) | (− 1.73) | (−1.23) | (− 1.29) | (− 1.30) | (−1.41) | (− 1.74) | (− 1.85) | |
DUAL | 34.828*** | 38.621*** | − 0.082 | − 0.03 | 38.848*** | 38.780*** | 35.161*** | 35.122*** | 35.248*** | 35.602*** | 38.860*** | 39.162*** |
−5.14 | − 5.54 | (−0.86) | (− 0.38) | − 5.56 | − 5.56 | −5.17 | − 5.18 | −5.31 | − 5.4 | −5.64 | − 5.72 | |
BOARD | 6.315** | 1.646 | 0.217*** | 0.237*** | 1.045 | 0.405 | 5.564* | 4.875* | 5.240* | 4.589 | 0.814 | 0.24 |
−2.09 | −0.52 | −6.55 | −8.54 | −0.34 | − 0.13 | − 1.89 | − 1.67 | − 1.77 | − 1.57 | −0.26 | − 0.08 | |
INNOVATION_I | 42.429*** | 42.201*** | 0.237*** | 0.203*** | 41.544*** | 41.137*** | 41.731*** | 41.324*** | 40.817*** | 40.252*** | 40.641*** | 40.076*** |
−12.65 | −12.65 | −6.59 | − 6.88 | − 12.4 | − 12.37 | − 12.39 | −12.36 | − 12.21 | −12.15 | − 12.23 | −12.17 | |
YEAR | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
INDU | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
CONS | −1.2e+ 03*** | −1.2e+ 03*** | −2.476*** | −3.558*** | − 1.2e+ 03*** | − 1.1e+ 03*** | −1.2e+ 03*** | − 1.2e+ 03*** | −1.1e+ 03*** | − 1.1e+ 03*** | −1.1e+ 03*** | − 1.1e+ 03*** |
(− 14.72) | (− 14.77) | (− 3.57) | (−6.19) | (−14.78) | (− 14.77) | (− 14.73) | (− 14.72) | (− 14.60) | (− 14.58) | (− 14.66) | (−14.64) | |
N | 5130 | 5130 | 5130 | 5130 | 5130 | 5130 | 5130 | 5130 | 5130 | 5130 | 5130 | 5130 |
R 2 | 0.246 | 0.248 | 0.064 | 0.082 | 0.249 | 0.251 | 0.247 | 0.248 | 0.27 | 0.276 | 0.272 | 0.278 |
F | 14.054 | 13.718 | 10.24 | 12.732 | 13.33 | 13.341 | 13.626 | 13.639 | 13.519 | 13.714 | 13.277 | 13.468 |