Life in the fast lane: Origins of competitive interaction in new vs, established markets, страница 14

·  † p < 0.10;

·  *

p < 0.05;

·  **

p < 0.01;

·  ***

p < 0.001; two-tailed tests; N = 681 for market moves and N = 467 for R&D moves.

·  a

Robust standard errors are below coefficients.

Firm performance

− 0.386^*

− 0.535^**

0.294^**

0.296†

(0.154)

(0.187)

(0.103)

(0.161)

Firm resources

− 0.005

0.023

0.011^**

− 0.0002

(0.014)

(0.017)

(0.004)

(0.008)

Demand diversity

3.028^***

3.097^***

3.006^***

− 0.190

− 0.204

− 0.247

(0.833)

(0.823)

(0.825)

(0.676)

(0.671)

(0.668)

Competitor moves

0.022^***

0.022^***

0.022^***

− 0.005†

− 0.004

− 0.004

(0.003)

(0.003)

(0.003)

(0.003)

(0.003)

(0.003)

Sector growth

− 0.212^**

− 0.221^**

− 0.249^***

0.079†

0.070

0.063

(0.074)

(0.072)

(0.075)

(0.041)

(0.049)

(0.046)

Constant

− 2.020^**

− 1.992^**

− 1.890^**

0.606

0.550

0.583

(0.645)

(0.637)

(0.641)

(0.520)

(0.517)

(0.512)

Wald Chi²

95.76^***

102.87^***

106.17^***

22.30^***

19.86^***

21.41^***

·  † p < 0.10;

·  *

p < 0.05;

·  **

p < 0.01;

·  ***

p < 0.001; two-tailed tests; N = 236 for market moves and N = 260 for R&D moves.

·  a

Robust standard errors are below coefficients.

Firm performance

0.122^*

0.200^*

0.422^***

0.343^***

(0.059)

(0.078)

(0.046)

(0.064)

Firm resources

0.003

− 0.027

0.100^***

0.037^*

(0.015)

(0.019)

(0.015)

(0.019)

Demand diversity

0.092

0.077

0.101

− 0.005

− 0.029

− 0.035

(0.086)

(0.084)

(0.084)

(0.073)

(0.060)

(0.067)

Competitor moves

− 0.007

− 0.004

− 0.004

0.005

0.013^**

0.012^**

(0.005)

(0.005)

(0.005)

(0.005)

(0.004)

(0.004)

Sector growth

− 0.243^*

− 0.236^*

− 0.194

− 0.447^***

− 0.353^***

− 0.373^***

(0.120)

(0.118)

(0.120)

(0.079)

(0.079)

(0.078)

Constant

0.291^***

0.246^**

0.215^**

0.432^***

0.279^***

0.303^***

(0.073)

(0.076)

(0.078)

(0.055)

(0.059)

(0.060)

Wald Chi²

8.21†

12.34^*

15.51^**

99.00^***

138.56^***

133.21^***