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Table 8 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 t

Tfp t + 1

Tfp t + 2

Tfp t + 3

Tfp t + 4

Model 1

Model 2

Model 3

Model 4

Model 5

Model 6

Model 7

Model 8

Model 9

Model 10

VCrep

−0.027**

 

−0.084**

 

− 0.136

 

−0.111

 

0.907**

 

(0.012)

 

(0.038)

 

(0.159)

 

(0.210)

 

(0.370)

 

IntraRep

 

0.124*

 

0.203*

 

0.632**

 

0.758**

 

0.806*

 

(0.068)

 

(0.116)

 

(0.271)

 

(0.323)

 

(0.459)

ExtraRep

 

−0.063***

 

−0.171***

 

−0.514***

 

−0.695***

 

1.194

 

(0.020)

 

(0.051)

 

(0.191)

 

(0.266)

 

(0.856)

Controls

Included

Included

Included

Included

Included

Included

Included

Included

Included

Included

Constant

72.602***

72.583***

71.700***

71.587***

72.935***

73.100***

72.817***

73.055***

73.406***

73.327***

(1.876)

(1.873)

(1.860)

(1.857)

(1.972)

(1.963)

(2.211)

(2.191)

(2.860)

(2.872)

N

1790

1790

1553

1553

1088

1088

617

617

304

304

F

50.69

48.73

38.52

37.16

20.87

20.64

11.89

12.12

7.76

7.31

R 2

0.376

0.378

0.335

0.338

0.271

0.279

0.263

0.278

0.316

0.316

  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