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家族企業之興業行為：探究忠僕型經理人、開創性導向以及新產品開發之關係
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positive effect on exploration orientation. The third step was to confirm the relationship
between exploration orientation and NPD (i.e., the relationship between mediator and
dependent variables). As shown above in Model 1c and 2c, exploration orientation had
significant and positive effect on NPD. The last step was to include the mediator in the
model to examine whether it reduced the effects of the antecedent to non-significance
(
p
>0.05). As Model 1c and 2c showed, the coefficient for exploration orientation was
positive and significant, indicating the direct effect of exploration orientation on NPD.
Furthermore, exploration orientation significantly reduced the effect of decision
comprehensiveness, participative governance and long-term orientation on NPD; the effects
of these three variables became non-significant. Thus exploration orientation played a
mediating role between decision comprehensiveness, participative governance, long-term
orientation and NPD, supporting Hypothesis 3a and 3b. Lastly, in order to test the
hypothesized moderation effects, we entered both the moderator independently and the
interaction terms in Model 3c. In this model, the interaction effects indicates significance
(see Figure 2). Therefore, hypothesis 4 is supported.
High FSC
Low FSC
High
Stewardship orientation
Explorative orientation
Low
High SO
Low SO
Figure 2 The Moderating Effect of Family Social Capital