Case Study: The Spanish Wine Industry

Results

Results for cooperatives

In Table 18 the study reports the regression values for cooperatives. To establish conclusions the significance level is set at 0.05. The adjusted $R^2$ has a value of 0.260 in the full model and shows the overall significance. The results show that the control variable "internal rivalry" has the highest beta value (0.502) and a high significance level (0.012). With regard to strategies, there are none that explain performance, however the authors find a negative value for the innovation strategy, with a significance level of 0.049. In terms of resources and capabilities in relation to performance, technological capabilities has a beta value of 0.414 and a statistical significance of 0.022, the managerial capabilities variable is not statistically significant. Thus, for cooperatives, the study confirms hypothesis 1 but rejects hypothesis 2, 3.1 and 3.2.

Table 18. Regression analysis for cooperative wineries.

Variables	Base model				Base model + strategy				Full model
	β	t	sig	sd	β	t-	sig	sd	β	t-	sig	sd
(1) Internal Rivalry	.173	1.200	.237	.109	.345	1.732	.092	.152	.502	2.662	.012	.143
(2) Assets	.284	1.967	.056	.092	.207	1.252	.219	.104	.171	1.084	.286	.115
(3) Efficiency Strategy					.099	.589	.559	.108	-.176	-1.007	.321	.112
(4) Marketing Strategy					.053	.298	.768	.153	.047	.318	.753	.150
(5) Innovation Strategy					-.121	-.663	.512	.148	-.400	-2.051	.049	.159
(6) Low Price Strategy					.104	.624	.537	.158	-.005	-.030	.977	.146
(7) Small Market and Product Strategy					.233	1.455	.155	.148	.228	1.497	.144	.141
(8) Technological Capability									.414	2.402	.022	.169
(9) Managerial Capability									.200	1.231	.227	.148
R²		0.126				0.238				0.423
Adjusted R²		0.086				0.086				0.260
Change in R²						0				0.174

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