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Table 12 Robustness tests 1 and 2: Regression results of temporal effect

From: Venture capital reputation: a blessing or a curse for entrepreneurial firm innovation—a contingent effect of industrial distance

  Tfp Tfp t + 1 Tfp t + 2 Tfp t + 3 Tfp t + 4
VCInv −0.017*** −0.024*** −0.035*** −0.050*** − 0.056*
(0.006) (0.007) (0.009) (0.013) (0.032)
IntraInv 0.111** 0.085* 0.146** 0.143 0.449**
(0.045) (0.051) (0.067) (0.089) (0.188)
IntraRep_c 0.024 0.312* 0.588** 0.635* 0.650
(0.125) (0.178) (0.289) (0.342) (0.469)
ExtraInv −0.049*** −0.052*** −0.081*** −0.098*** −0.196***
(0.013) (0.015) (0.019) (0.025) (0.060)
ExtraRep_c −0.030** −0.125*** − 0.431** −0.545** 1.487**
(0.014) (0.042) (0.185) (0.260) (0.724)
  1. Notes. (1) Dependent variables are Tfpt, Tfpt + 1, Tfpt + 2, Tfpt + 3, Tfpt + 4, respectively. (2) The regression model is OLS. (3) t-statistics is reported in the parentheses. (4) *denotes significance at the 10% level. **denotes significance at the 5% level. ***denotes significance at the 1% level