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Table 14 Robustness test 4: Regression results between Tech and Non-Tech subgroup

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

Subgroup Tfp t + 1
Model 1 Model 2 Model 3 Model 4 Model 5 Model 6
Tech Tech Tech Non-Tech Non-Tech Non-Tech
VCRep −0.030   0.708*** −0.097**   0.455**
(0.079)   (0.272) (0.041)   (0.141)
VCRep × ID    −1.017***    −0.688***
   (0.360)    (0.170)
ID    −0.164    0.249
   (0.561)    (0.318)
IntraRep   0.739***    0.147**  
  (0.268)    (0.064)  
ExtraRep   −0.235***    −0.172**  
  (0.082)    (0.057)  
Controls Included Included Included Included Included Included
Constant 96.596*** 97.461*** 98.410*** 71.133*** 70.934*** 72.125***
(5.614) (5.860) (5.975) (2.501) (2.494) (3.077)
N 599 599 525 954 954 803
F 15.81 15.66 13.36 20.77 19.89 18.64
R 2 0.343 0.352 0.339 0.352 0.355 0.368
  1. Notes. (1) Dependent variable is Tfpt + 1. (2) The regression model is OLS. (3) t-statistics is reported in the parentheses. (4) **denotes significance at the 5% level. ***denotes significance at the 1% level