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Table 2 Regression results

From: Shareholder internationality and importing activities of emerging market firms

Model # 1 2 3 4
Dependent variable Import propensity (H1a) Diversity of importing countries of origin (H1b) Import propensity (H2a) Diversity of importing countries of origin (H2b)
Statistical model Probit Linear regression Probit Linear regression
Constant −2.210* 1.132*** −2.258 1.106***
(1.258) (0.387) (1.605) (0.395)
Experience 0.018 0.001 0.027** 0.001
(0.011) (0.003) (0.014) (0.003)
VAT 0.001 0.015 −0.002 0.014
(0.042) (0.009) (0.043) (0.009)
Tariffs −0.081** −0.022** − 0.091** −0.021**
(0.037) (0.009) (0.039) (0.009)
Size 1.039*** 0.034** 1.225*** 0.033**
(0.213) (0.016) (0.275) (0.016)
H1: Shareholder internationality 1.812*** 0.302**   
(0.572) (0.135)   
H2: Divergence of shareholders’ nationality backgrounds    −0.294*** 0.030*
   (0.100) (0.016)
Year dummies Included Included Included Included
Industry dummies Included Included Included Included
N 864 568 864 568
Wald chi2 67.22 89.30 88.85 84.58
  1. Notes. Standard errors in parentheses, * p < 0.10, ** p < 0.05, *** p < 0.01