Skip to main content

Advertisement

Table 5 Main results. The main results testing the three hypotheses are provided. All the distance variables are multiplied by − 1 in the regression to allow their interpretation as proximity. For example, the positive coefficients on the distance variables imply that proximity is beneficial to startup innovation performance

From: Extending the role of headquarters beyond the firm boundary: entrepreneurial alliance innovation

Dependent variable: Forward Citation Count (5.1) (5.2) (5.3)
Hypothesis tested: H1 H2 H3
Distance CHQ to Startup 28.415* 27.902* 26.108*
  (14.748) (14.631) (13.997)
Distance CHQ to Startup × CHQ R&D Function   − 4.861*** − 4.372**
   (1.812) (1.859)
Distance CHQ to Startup × CHQ R&D Function    − 7.766*
× Horizontal Alliance    (4.580)
Distance CHQ to Startup × Horizontal Alliance    2.310
    (5.791)
Distance CHQ to Startup × CHQ Consolidated 6.399** 6.247** 6.264**
  (3.145) (3.127) (3.139)
Distance Subsidiary to Startup (Closest) − 6.703** − 6.871** − 6.789**
  (3.378) (3.442) (3.435)
CHQ R&D Function − 7.515 − 8.428 − 8.458
  (7.118) (7.020) (7.046)
Horizontal Alliance 33.073** 33.342** 28.249**
  (15.205) (14.650) (13.652)
CHQ Consolidated 14.503* 14.898* 14.940*
  (7.976) (7.855) (7.870)
Alliance Exploitation 17.841 19.429 18.658
  (20.017) (19.608) (19.464)
Alliance Equity and Joint Venture − 59.582*** − 58.580*** − 59.644***
  (16.772) (16.357) (16.815)
Alliance Duration 1.456 1.497 1.613
  (2.189) (2.139) (2.143)
Controls for incumbent characteristics Yes Yes Yes
Controls for startup characteristics Yes Yes Yes
Startup–incumbent fixed effects Yes Yes Yes
Year fixed effects Yes Yes Yes
Startup location fixed effects Yes Yes Yes
Incumbent location fixed effects Yes Yes Yes
Observations 1478 1478 1478
Number of startup–incumbent dyads 377 377 377
Adjusted R2 0.750 0.752 0.752
  1. Robust standard errors clustered at startup–incumbent level in parentheses
  2. *p < 0.10, **p < 0.05, ***p < 0.01