The Relationship between Extent of Internationalization and Firm Performance (Taiwan 1992–2017)

Table 12

All sample panel data analysis.

	Explanatory variable	Control variable	All variable
	Random effect	Fixed effect	Fixed effect
FS	0.0068 (0.0019)		0.0046 (0.0016)
FS^2	−0.00014 (0.0000)		−0.0001 (0.0000)
FS^3	0.00000089 (0.0000)		0.00000069 (0.0000)
SC		0.0250 (0.0045)	0.0238 (0.0045)
LA		0.0009 (0.0001)	0.0009 (0.0001)
DA		−0.0069 (0.0002)	−0.0069 (0.0002)
AG		−0.0077 (0.0005)	−0.0076 (0.0005)
BS		0.0351 (0.0018)	0.0355 (0.0018)
OB		0.0068 (0.0004)	0.0067 (0.0004)
BP		−0.0663 (0.0195)	−0.0654 (0.0195)
PL		−0.0008 (0.0004)	−0.0008 (0.0004)
RD		0.0118 (0.0007)	0.0117 (0.0007)
MT		0.0024 (0.0007)	0.0028 (0.0008)
ME		0.0021 (0.0007)	0.0021 (0.0007)
C	1.0571 (0.0248)	0.7463 (0.0636)	0.7118 (0.0655)
Hausman test	6.4609	915.7628	915.8965
	3	11	14
	0.0912	0.0000	0.0000