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Life in the fast lane: Origins of competitive interaction in new vs, established markets, страница 13

The variables show considerable variance, and the correlation matrix indicates low correlation among independent variables. The moderate correlation (r > 0.5) between firm resources and performance is an exception. Consequently, these variables are entered in the models both separately and simultaneously, but the results are mostly unaffected. Since potential collinearity may inflate standard errors, but does not invalidate significant parameter estimates (Darlington, 1990), multicollinearity does not pose a threat to the results that we report.

Tables 2 and 3 report the results for the established and new markets, respectively. The co- efficients indicate the antecedents of competitive move frequency in each market. Tables 4 and 5 are similar, but with competitive moves measured by their diversity.

Table 2. Antecedents of move frequency in the established Sonite market: GEE Poisson regression resultsa

Table 2a. Frequency of market moves

Table 2b. Frequency of R&D moves

1

2

3

1

2

3

·  † p < 0.10;

·  *

p < 0.05;

·  **

p < 0.01;

·  ***

p < 0.001; two-tailed tests; N = 800.

·  a

Robust standard errors are below coefficients.

Firm performance

− 1.957***

− 2.307***

0.411

1.133*

(0.447)

(0.551)

(0.357)

(0.492)

Firm resources

− 0.078†

0.050

− 0.029

− 0.099*

(0.040)

(0.047)

(0.033)

(0.046)

Demand diversity

3.189

3.145

3.018

3.468†

3.420†

3.571†

(2.415)

(2.414)

(2.416)

(1.998)

(1.996)

(2.001)

Competitor moves

0.026**

0.027**

0.027**

0.003

0.003

0.003

(0.009)

(0.009)

(0.009)

(0.007)

(0.007)

(0.007)

Sector growth

− 0.242

− 0.325

− 0.389

− 0.396*

− 0.425*

− 0.339†

(0.230)

(0.228)

(0.236)

(0.194)

(0.192)

(0.195)

Constant

− 2.787

− 2.358

− 2.176

− 2.363

− 2.401

− 2.685†

(1.873)

(1.872)

(1.879)

(1.548)

(1.548)

(1.556)

Wald Chi2

19.52***

34.51***

35.55***

10.65*

11.16*

15.43**

Table 3. Antecedents of move frequency in the new Vodite market: GEE Poisson regression resultsa

Table 3a. Frequency of market moves

Table 3b. Frequency of R&D moves

1

2

3

1

2

3

·  † p < 0.10;

·  *

p < 0.05;

·  **

p < 0.01;

·  ***

p < 0.001; two-tailed tests; N = 435.

·  a

Robust standard errors are below coefficients.

Firm performance

0.737***

0.712**

1.164***

0.835***

(0.167)

(0.239)

(0.134)

(0.190)

Firm resources

0.138**

0.009

0.271***

0.123*

(0.042)

(0.062)

(0.033)

(0.049)

Demand diversity

0.788**

0.797**

0.793**

− 0.387†

− 0.289

− 0.376†

(0.258)

(0.257)

(0.259)

(0.204)

(0.202)

(0.206)

Competitor moves

0.005

0.016

0.016

0.012

0.029*

0.027*

(0.014)

(0.015)

(0.015)

(0.013)

(0.013)

(0.013)

Sector growth

− 0.465

− 0.323

− 0.333

− 0.429

− 0.090

− 0.261

(0.336)

(0.337)

(0.343)

(0.278)

(0.279)

(0.285)

Constant

− 0.391†

− 0.659**

− 0.649**

0.301†

− 0.187

− 0.032

(0.211)

(0.222)

(0.232)

(0.171)

(0.183)

(0.191)

Wald Chi2

32.50***

40.21***

40.29***

67.43***

78.07***

85.09***
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