Table 8.
Summary of the hypothesis testing.
| Hypothesis | Expected Sign | Resulted Sign | Statistically Significance | Description | Decision |
|---|---|---|---|---|---|
| H1: BoC size > ESP | + | + | S∗ | Sig, same sign | Supported |
| H2: BoC size > EnSP | + | + | NS | Not sig, same sign | Not supported |
| H3: BoC size > SSP | + | - | S∗ | Sig, different sign | Not supported |
| H4: President of BoC's education > ESP | + | - | S∗∗ | Sig, different sign | Not supported |
| H5: President of BoC's education > EnSP | + | - | S∗∗∗ | Sig, different sign | Not supported |
|
H6: President of BoC's education > SSP |
+ |
+ |
NS |
Not sig, same sign |
Not Supported |
| H7: TMT size > ESP | - | - | S∗∗∗ | Sig, same sign | Supported |
| H8: TMT size > EnSP | - | - | S∗∗∗ | Sig, same sign | Supported |
|
H9: TMT size > SSP |
- |
- |
NS |
Not sig, same sign |
Not Supported |
| H10: CEO's Education > ESP | + | - | S∗∗ | Sig, different sign | Not Supported |
| H10: CEO's Education > EnSP | + | - | NS | Not sig, different sign | Not Supported |
| H10: CEO's Education > SSP | + | - | NS | Not sig, different sign | Not Supported |
Note: ∗ p-value<0.1, ∗∗ p-value<0.05, ∗∗∗ p-value<0.01.