Using moderated multiple regression results, the central hypothesis of a three way interaction received significant support in five of the six equations including all three of the equations involving two year sales mean as the performance growth measure. These results are reported in Tables 1 and 2. In all 12 equations reported across these two tables the values of all three conditional effect variables have been centered by subtracting the mean for the variable from the actual value of the variable for every observation. Therefore these variables have a mean of zero (0) and their standard deviations remain unchanged.

The results of the test of Hypothesis 1 can be found in
Table 1. The test of the increase in
R^{2 }in moving from the
simple regression model of Model 1A to the moderated regression
model of Model 1B was significant. Therefore, the moderated model
was considered to constitute a sufficiently strong contribution
beyond the simple main effects model that the hypothesis could
not be rejected before examining Model 1B. The partial test for
the significance of the 3-way interaction between sales mean, the
positiveness of NVT reaction to VC strategic assistance, and the
level of global justice reaction of the NVT to interactions with
the VC confirmed the expected positive and significant
coefficient (*b*=43,994, *t*_{prob}=.0065).
Hypothesis 1 could not be rejected based on this analysis. This
relationship is graphed in Figure 1 (Graphic unavailable).
Under low global justice
perception conditions, low strategic assistance is perceived by
VCs as less risky over the entire relevant range of the sales
mean variable. Under high global justice perception conditions,
high strategic assistance is perceived as less risky across the
entire range of above average sales performance conditions. Thus,
a high global justice perception allows the VCs to freely use
high levels of strategic assistance when performance effects
appear likely to coincide with such assistance.

The results of the test of Hypothesis 2 can be found in
Table 2. The test of the increase in
R^{2 }in moving from the
simple regression model of Model 2A to the moderated regression
model of Model 2B was significant. Therefore, the moderated model
was considered to constitute a sufficiently strong contribution
beyond the simple main effects model that the hypothesis could
not be rejected before examining Model 2B. The partial test for
the significance of the 3-way interaction between income
performance level, the positiveness of NVT reaction to VC
strategic assistance, and the level of global justice reaction of
the NVT to interactions with the VC confirmed the expected
positive coefficient (*b*=113,482, *t*_{prob}=.0552)
at a marginal significance level. Hypothesis 2 could not be
rejected based on this analysis. This relationship is graphed in
Figure 1. Under low global justice perception conditions, VCs see
low strategic assistance assistance as less risky than high
strategic assistance throughout the relevant range on mean
income. Under high global justice perception conditions, VCs see
high levels of strategic assistance as less risky under all above
average income performance conditions. As was shown for sales
performance but even more pronounced for income performance, a
high global justice perception condition allows VCs to feel much
less risk at becoming involved via strategic assistance whenever
above average performance enhancements appear likely to coincide
with such assistance.

The results of the test of Hypothesis 3 can be found in
Table 1. The test of the increase in
R^{2 }in moving from the
simple regression model of Model 3A to the moderated regression
model of Model 3B was significant. Therefore, the moderated model
was considered to constitute a sufficiently strong contribution
beyond the simple main effects model that the hypothesis could
not be rejected before examining Model 3B. The partial test for
the significance of the 3-way interaction between sales
performance mean, the positiveness of NVT reaction to VC
operational assistance, and the level of global justice reaction
of the NVT to interactions with the VC confirmed the expected
positive and significant coefficient (*b*=84,053, *t*_{prob}=.0010).
Hypothesis 3 could not be rejected based on this analysis. This
relationship is graphed in Figure 1 (Graphic unavailable). Under low global
justice perception conditions, VCs tend to view higher levels of
operational assistance as more risky at above average performance
levels but less risky at below average performance levels. This
suggests that VCs may require more extensive use of operational
assistance in conditions where venture sales performance is below
average and where NVT global justice perceptions are low in order
to lower their own risk perceptions and to justify continuing to
fund the venture. Under high global justice perceptions, a higher
level of operational assistance lowers VCs’ risk perceptions
across all above average sales performance levels.

The results of the test of Hypothesis 4 can be found in
Table 2. The test of the increase in
R^{2 }in moving from the
simple regression model of Model 4A to the moderated regression
model of Model 4B was significant. Therefore, the moderated model
was considered to constitute a sufficiently strong contribution
beyond the simple main effects model that the hypothesis could
not be rejected before examining Model 4B. The partial test for
the significance of the 3-way interaction between income
performance level, the positiveness of NVT reaction to VC
operational assistance, and the level of global justice reaction
of the NVT to interactions with the VC confirmed the expected
positive coefficient (*b*=119,424, *t*_{prob}=.0559)
at a marginal significance level. Hypothesis 4 could not be
rejected based on this analysis. This relationship is graphed in
Figure 1. Under low global justice perception conditions, VCs see
low operational assistance as less risky than high operational
assistance throughout the relevant range on income mean. Under
high global justice perception conditions, VCs see high levels of
strategic assistance as less risky under all above average income
performance conditions. As was shown for sales performance but
even more pronounced for income performance, a high global
justice perception condition allows VCs to feel much less risk at
becoming involved via operational assistance whenever above
average performance enhancements appear possible

The results of the test of Hypothesis 5 can be found in Table 1.
The test of the increase in R^{2 }in moving from the
simple regression model of Model 5A to the moderated regression
model of Model 5B was significant. Therefore, the moderated model
was considered to constitute a sufficiently strong contribution
beyond the simple main effects model that the hypothesis could
not be rejected before examining Model 5B. The partial test for
the significance of the 3-way interaction between sales
performance mean, the positiveness of NVT reaction to VC conflict
recognition assistance, and the level of mutuality-based justice
reaction of the NVT to interactions with the VC confirmed the
expected positive and significant coefficient (*b*=37,456, *t*_{prob}=.00262).
This relationship is graphed in Figure 1 (graphic unavailable). Under low
mutuality-based justice perception conditions, VCs tend to have
no pronounced risk preference between conflict recognition
assistance levels. Under high mutuality-based justice perception
conditions, a higher level of conflict recognition assistance
lowers VCs’ risk perceptions across all above average sales
performance levels.

The results of the test of Hypothesis 6 can be found in
Table 2.
The test of the increase in R^{2 }in moving from the
simple regression model of Model 6A to the moderated regression
model of Model 6B was significant. Therefore, the moderated model
was considered to constitute a sufficiently strong contribution
beyond the simple main effects model that there was justification
in examining Model 6B. Therefore, the moderated model was
considered to constitute a sufficiently strong contribution
beyond the simple main effects model that the hypothesis could
not be rejected before examining Model 5B. The partial test for
the significance of the 3-way interaction between income
performance mean, the positiveness of NVT reaction to VC conflict
recognition assistance, and the level of mutuality-based justice
reaction of the NVT to interactions with the VC failed to
confirmed the expected positive and significant coefficient (*b*=77,829,
*t*_{prob}=.2160). Hypothesis 6 was rejected based
on this analysis. Although the relationship was too weak to be
statistically significant, the parallel nature of the
relationship can be viewed as graphed in Figure 1. Under low
mutuality-based justice perception conditions, VCs appear to
perceive low conflict recognition assistance as slightly less
risky than high conflict recognition assistance levels,
especially at above average performance levels. However, unlike
the other five models, under high justice perception conditions,
a higher level of assistance does not appreciably lower VCs’
risk perceptions except at extreme above average performance
levels.

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Last Updated 4/5/97 by Cheryl Ann Lopez

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