Table 3 Robustness test 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 | Logit | Tobit | Logit | Tobit |
Constant | −3.763* | 1.387** | −3.888 | 1.354** |
(2.131) | (0.639) | (2.610) | (0.662) | |
Experience | 0.035* | −0.001 | 0.052** | −0.002 |
(0.020) | (0.004) | (0.025) | (0.005) | |
VAT | 0.002 | 0.014 | −0.004 | 0.014 |
(0.076) | (0.015) | (0.078) | (0.015) | |
Tariffs | −0.167** | −0.027* | − 0.174** | −0.025 |
(0.073) | (0.015) | (0.075) | (0.015) | |
Size | 1.891*** | 0.171*** | 2.244*** | 0.160** |
(0.392) | (0.062) | (0.550) | (0.064) | |
H1: Shareholder internationality | 3.242*** | 0.590** | Â | Â |
(1.051) | (0.233) | Â | Â | |
H2: Divergence of shareholders’ nationality backgrounds |  |  | −0.528** | 0.055* |
| Â | Â | (0.186) | (0.033) | |
Year dummies | Included | Included | Included | Included |
Industry dummies | Included | Included | Included | Included |
N | 864 | 568 | 864 | 568 |
Wald chi2 | 59.56 | 56.37 | 76.50 | 54.84 |