Table 4 TMT social capital, network position, and innovation

OVERSEA_C

1.300***

0.034**

0.026**

1.270***

1.258***

1.246***

1.226***

−3.19

−2.57

−2.31

− 3.11

− 3.09

− 3.11

− 3.08

PRESTIGE

0.853**

0.902**

0.907**

0.859**

−2.2

− 2.33

− 2.38

− 2.26

POWER

1.631***

1.683***

1.642***

1.591***

−3.5

−3.61

−3.62

−3.51

BANK_C

50.270***

49.117***

50.038***

48.892***

−4.17

−4.28

−4.13

−4.25

PRESTIGE×BANK_C

17.130***

17.127***

−3.32

−3.3

POWER×BANK_C

23.185***

23.162***

−3.76

−3.73

SOE

−27.461***

−30.446***

−0.848***

− 0.404

−29.722***

−29.786***

−26.767***

−26.880***

−24.580***

− 24.835***

− 27.483***

−27.674***

(− 3.82)

(−4.11)

(−2.88)

(− 1.64)

(− 4.01)

(− 4.02)

(− 3.73)

(− 3.75)

(− 3.45)

(−3.49)

(− 3.73)

(− 3.77)

SCALE

19.319***

18.172***

0.150***

0.148***

18.044***

17.930***

19.157***

19.031***

18.490***

18.464***

17.402***

17.393***

−13.93

−13.2

−3.04

−3.59

− 13.16

− 13.13

−13.87

− 13.83

−13.7

− 13.73

−13.12

− 13.16

AGE

−0.224

− 0.328

0.007

0.01

−0.334

− 0.344

− 0.233

−0.245

− 0.236

−0.256

− 0.335*

−0.354*

(− 1.07)

(− 1.55)

− 0.81

− 1.36

(− 1.58)

(−1.63)

(− 1.12)

(− 1.18)

(−1.19)

(− 1.30)

(− 1.65)

(−1.76)

DUAL

9.954***

11.183***

−0.082

− 0.03

11.252***

11.232***

10.057***

10.045***

10.090***

10.200***

11.263***

11.357***

−4.78

−5.22

(−0.86)

(− 0.38)

− 5.24

− 5.24

−4.81

− 4.82

−4.94

−5.03

− 5.31

−5.39

BOARD

1.989**

0.476

0.217***

0.237***

0.291

0.09

1.757*

1.540*

1.657*

1.452

0.219

0.038

−2.11

−0.48

−6.55

−8.54

− 0.3

− 0.09

−1.92

−1.7

−1.8

−1.59

− 0.23

−0.04

INNOVATION_I

14.049***

13.976***

0.237***

0.203***

13.773***

13.645***

13.834***

13.705***

13.565***

13.387***

13.507***

13.330***

−13.36

−13.37

−6.59

−6.88

− 13.09

− 13.06

−13.07

− 13.05

−12.91

− 12.86

−12.93

− 12.88

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

− 378.240***

− 376.795***

−2.476***

−3.558***

− 374.682***

− 370.993***

− 375.973***

− 372.206***

− 365.729***

− 361.669***

− 364.510***

− 360.534***

(−15.24)

(−15.29)

(−3.57)

(−6.19)

(− 15.29)

(− 15.28)

(− 15.24)

(− 15.23)

(− 15.12)

(−15.10)

(− 15.19)

(− 15.16)

N

5130

5130

5130

5130

5130

5130

5130

5130

5130

5130

5130

5130

R ²

0.255

0.258

0.064

0.082

0.258

0.26

0.256

0.258

0.278

0.284

0.28

0.286

F

14.019

13.674

10.24

12.732

13.276

13.304

13.581

13.61

13.493

13.725

13.224

13.453