. 2023 Jan 31;13:1041022. doi: 10.3389/fpsyg.2022.1041022

TABLE 5.

Regression results of robust model (substituting time-honored brands innovation).

Variable	Model 1 (Tech Substitution variable)	Model 2 (Tech Substitution variable)	Model 3 (Tech Substitution variable)
Rel	8.901^*		5.740^***
	(1.94)		(4.17)
Lns		0.005^***	0.001^***
		(3.61)	(5.22)
Rel*Lns			−6.440^***
			(−4.10)
Size	−0.001^***	−0.001^***	−0.001^***
	(−3.43)	(−4.10)	(−3.37)
CSP	–0.004	–0.008	–0.002
	(−0.52)	(−1.07)	(−0.02)
HHI	−0.014^***	−0.016^***	−0.015^***
	(−5.81)	(−7.22)	(−6.41)
Grow	–0.002	–0.002	−0.002^*
	(−1.55)	(−1.65)	(−1.80)
Id	−0.001^***	−0.001^***	−0.001^***
	(−3.73)	(−3.70)	(−3.14)
Bss	−0.001^*	−0.005^*	−0.001^**
	(−1.84)	(−1.73)	(−2.20)
Gdr	0.008	0.001	0.001
	(1.43)	(1.24)	(1.39)
Roe	0.000^***	0.003^***	0.000
	(5.57)	(6.06)	(5.53)
Yl	0.001^**	0.002^**	0.001^**
	(2.11)	(2.35)	(2.17)
Year	Yes	Yes	Yes
Constant	0.404^***	0.416^***	0.312^***
	(5.08)	(5.69)	(3.96)
R²	0.276	0.296	0.332
Adj R²	0.254	0.275	0.307

*p < 0.1, **p < 0.05, ***p < 0.01, and T-value are in parentheses.