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Table 7 Subgroup with VC types (divided by mean)

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
Low IntraRep & Low ExtraRep High IntraRep & High ExtraRep High IntraRep & Low ExtraRep Low IntraRep & High ExtraRep
VCrep −1.115 −0.161** 1.530*** −0.321**
(1.202) (0.074) (0.551) (0.137)
Controls Included Included Included Included
Constant 72.400*** 83.069*** 70.192*** 77.022***
(2.934) (4.301) (3.999) (4.492)
N 1003 141 241 168
F 24.55 7.62 6.04 9.24
R 2 0.333 0.496 0.355 0.527
  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