Table 2
Probit Analysis of Developing a Strategic Relationship
(yi = 1 if firm i in developed a strategic relationship with corporation _b ) 

Variable
(Mean Values) 

Time 

Stock of Previous Investments 

Constant: Direct Investors
(1.00) 

-0.16
(0.11) 

-0.30***
(0.12) 

Organization Structure : Independent
(.22) 

-0.01
(0.10) 

0.10
(0.11) 

Organization Structure : Wholly Owned
(.60) 

0.12*
(0.07) 

0.17**
(0.08) 

Commitment (10^-2)
(16.7) 

0.46***
(0.15) 

0.41***
(0.16) 

Age (10^-2)
(2.93) 

0.16
(0.98) 

0.09
(0.10) 

Round of First Investment By Corp.
(2.53) 

0.03*
(0.02) 

0.04**
(0.02) 

Patents Before Investment
(0.17) 

-0.02
(0.02) 

-0.02
(0.02) 

Patents After Investment
(1.83) 

0.00
0.00 

0.00
0.00 

Number of Other Corporate Investors
(1.67) 

0.02**
0.01 

0.01*
0.01 

Number of Other Network Related Investors
(1.00) 

0.07***
0.03 

0.07***
0.03 

Venture Capital Funding (10^-5)
(52962) 

-0.25
(0.71) 

-0.12*
(0.08) 

Time (10^-2)
(71.43) 

-0.06
(0.05) 

Corporate Experience (10^-2)
20.74 

-0.21
(0.15) 

Industry Experience(10^-2)
228 

0.05**
0.02 

0.06**
(0.02) 

Forgetting (10^-2)
4.19 

0.20
0.15 

0.12
0.15 

Number of Observations 

350 

350 

Log Likelihood 

-221.08 

-222.24 

X² for model 

37.09*** 

37.41***