From: Extending the role of headquarters beyond the firm boundary: entrepreneurial alliance innovation
Dependent variable: Forward Citation Count | (8.1) | (8.2) | (8.3) |
---|---|---|---|
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 × Horizontal Alliance | − 7.766* | ||
(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) | |
Incumbent Subsidiary Dispersion | − 0.063 | − 0.069 | − 0.071 |
(0.289) | (0.287) | (0.287) | |
Incumbent Portfolio Dispersion | 1.223 | 1.224 | 1.194 |
(1.573) | (1.525) | (1.532) | |
Incumbent Patent Count (Five-Year Lagged) | 0.003 | 0.003 | 0.003 |
(0.006) | (0.006) | (0.006) | |
Incumbent Age | − 0.303** | − 0.293** | − 0.293** |
(0.128) | (0.126) | (0.126) | |
Incumbent Size (Logged) | 0.074 | 0.333 | 0.540 |
(4.710) | (4.673) | (4.682) | |
Incumbent Acquired | 86.877*** | 85.270*** | 85.134*** |
(13.787) | (13.968) | (13.947) | |
Startup Portfolio Dispersion | − 33.694 | − 33.591 | − 33.367 |
(34.282) | (34.246) | (34.449) | |
Startup Patent Count (Five-Year Lagged) | 0.010 | 0.013 | 0.014 |
(0.078) | (0.077) | (0.077) | |
Startup Age | − 0.418 | − 0.399 | − 0.349 |
(0.408) | (0.404) | (0.375) | |
Startup Size (Binary) | 2.490 | 3.284 | 3.341 |
(4.986) | (4.958) | (4.936) | |
Startup Manufacturing | 42.374*** | 42.363*** | 41.955*** |
(8.886) | (8.818) | (8.725) | |
Startup Capital Investment (Cumulative) | − 0.040 | − 0.039 | − 0.045 |
(0.029) | (0.030) | (0.030) | |
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 |