Table 3. Robust ordered probit model (dependent variable = Ownership choice) (1) (2) (3) 0.078 0.029 0.078 Uncertainty avoidance distance (0.142) (0.147) (0.142) 0.538** 0.771* 0.531* Language distance (0.203) (0.319) (0.209) -0.105 -0.128 -0.103 Education distance (0.152) (0.159) (0.153) 0.110 0.094 0.110 GDP pp (0.120) (0.122) (0.120) 1.316*** 1.322*** SOE * (0.337) (0.338) (0.342) -0.223* -0.230* -0.222* Size (0.107) (0.106) (0.107) 0.526* 0.502* 0.525* Target manufacturing (0.226) (0.227) (0.226) 0.428* 0.644* 0.421* Institutional distance (ID) (0.201) (0.294) (0.206) 0.691** 0.719** 0.688* Host country experience (HC exper.) (0.267) (0.272) (0.268) H1 Chinese (0.395) (0.520) (0.396) -0.382 H2 Chinese*ID (0.353) 0.178 H3 Chinese*ID*HC exper. (0.312) Sectorial dummies Yes Yes Yes Year dummies Yes Yes Yes -1.186** -1.187** Constant cut1 (0.393) (0.422) (0.393) -0.482 -0.605 -0.482 Constant cut2 (0.389) (0.415) (0.388) 206 206 206 No. 50.41 51.19 53.83 chi2 0.00 0.00 0.00 p Note: Standard errors in parentheses. Variables have been standardized. p<0.05, ** p<0.01, *** p<0.001.
Table 3. Robust ordered probit model (dependent variable = Ownership choice) (1) (2) (3) Uncertainty avoidance distance 0.078 0.029 0.078 (0.142) (0.147) (0.142) Language distance 0.538** 0.771* 0.531* (0.203) (0.319) (0.209) Education distance -0.105 -0.128 -0.103 (0.152) (0.159) (0.153) GDP pp 0.110 0.094 0.110 (0.120) (0.122) (0.120) SOE 1.316*** 1.322*** (0.337) (0.338) (0.342) Size -0.223* -0.230* -0.222* (0.107) (0.106) (0.107) Target manufacturing 0.526* 0.502* 0.525* (0.226) (0.227) (0.226) Institutional distance (ID) 0.428* 0.644* 0.421* (0.201) (0.294) (0.206) Host country experience (HC exper.) 0.691** 0.719** 0.688* (0.267) (0.272) (0.268) H1 Chinese (0.395) (0.520) (0.396) H2 Chinese*ID -0.382 (0.353) H3 Chinese*ID*HC exper. 0.178 (0.312) Sectorial dummies Yes Yes Yes Year dummies Yes Yes Yes Constant cut1 -1.186** -1.187** (0.393) (0.422) (0.393) Constant cut2 -0.482 -0.605 -0.482 (0.389) (0.415) (0.388) No. 206 206 206 chi2 50.41 51.19 53.83 p 0.00 0.00 0.00 Note: Variables have been standardized. Standard errors in parentheses. * p<0.05, ** p<0.01, *** p<0.001.