Table II presents a summary of the various goodness-of-fit heuristics for our proposed constrained latent structure regression methodology as applied to this data set. The analysis was performed in K ¼ 1,2,3,4, and 5 groups, with the AIC heuristic designating K ¼ 4 derived groups as the “optimal” solution. The entropy statistic also confirms this solution as “best” as well in rendering good separation between the estimated conditional distribution centroids. In comparing the fit of the
empirically-derived four group solution to that for the single-group solution (i.e., no heterogeneity in capabilities and performance) to assess any marginal improvement gained by accounting for heterogeneity in this sample, we note that we reject outright the aggregate sample regression function according to the AIC statistic. It is interesting to note that the corresponding R 2 ¼ 0.663 for the four group solution is nearly twice that of the aggregate sample analysis. Thus, the model selection heuristics associated with the methodology is able to determine the extent of the heterogeneity that exists in this sample of firms and contrast it statistically vs the aggregate sample, no heterogeneity solution (K ¼ 1).
Table II presents a summary of the various goodness-of-fit heuristics for our proposed constrained latent structure regression methodology as applied to this data set. The analysis was performed in K ¼ 1,2,3,4, and 5 groups, with the AIC heuristic designating K ¼ 4 derived groups as the “optimal” solution. The entropy statistic also confirms this solution as “best” as well in rendering good separation between the estimated conditional distribution centroids. In comparing the fit of theempirically-derived four group solution to that for the single-group solution (i.e., no heterogeneity in capabilities and performance) to assess any marginal improvement gained by accounting for heterogeneity in this sample, we note that we reject outright the aggregate sample regression function according to the AIC statistic. It is interesting to note that the corresponding R 2 ¼ 0.663 for the four group solution is nearly twice that of the aggregate sample analysis. Thus, the model selection heuristics associated with the methodology is able to determine the extent of the heterogeneity that exists in this sample of firms and contrast it statistically vs the aggregate sample, no heterogeneity solution (K ¼ 1).
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