Table 4.

Discriminant validity.

Variables	IC	OC	TI	BM	EU
Intellectual capital (IC)	0.708
Organizational character (OC)	0.545	0.713
Technological innovation (TI)	0.393	0.380	0.728
Business model innovation (BM)	0.389	0.465	0.452	0.749
Environmental uncertainty (EU)	0.241	0.131	0.095	0.195	0.779

The bold data are the square root values of AVE; the non-bold data are the correlation coefficients between the variables.