Table IV depicts the various ANOVA results for each of the independent variables, as well as the dependent variable. What is of particular interest here is that the only significant differences that appear are those with respect to the dependent variable: profitability.
There are no significant differences in mean values for any of the independent capability variables (no significant level heterogeneity). Thus, the underlying sources of heterogeneity captured by this methodology seems to be oriented around three facets of the data:
(1) the group differences concerning means of the dependent variable profitability as ascertained by these ANOVA runs;
(2) the differences in the regression coefficients (structural heterogeneity) reflecting the differential impact various capabilities have on profitability; and
(3) differences in unobserved heterogeneity as witnessed by the noticeable size and differences in the estimated group variance terms.