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Table 6 Assessment of endogeneity test using the Gaussian copula approach

From: The influence of CEO’s financial literacy on SMEs technological innovation: the mediating effects of MCS and risk-taking

Dependent variable innovation

Construct

Coefficient

p value

Model 1

lvRT

0.340

0.000

lvMCS

0.256

0.000

lvCFL

− 0.010

0.848

Model 2

lvRT

0.346

0.000

lvMCS

0.493

0.030

lvCFL

− 0.015

0.782

CMCS

− 0.436

0.277

Model 3

lvRT

0.342

0.000

lvMCS

0.245

0.000

lvCFL

0.450

0.076

CCFL

− 0.805

0.062

  1. C indicates the copula term in the model. Lv latent variable; RT risk taking; MCS Management Control System; CFL CEO’s financial literacy