I investigate the effect of formal and informal institutions (MV) differences on the relationship between (IV)dynamic capabilities (sensing, seizing, reconfiguring) and (DV) innovation (exploration and exploitation). Given that my interest lies mainly in the moderating effect that formal, informal institutions have on such relations, I wonder whether the hierarchical regression model would be sufficient or seemingly unrelated regression would be better since I will look at both exploration and exploitation separately.

Also, the hierarchical method was often used across existing literature, investigating that phenomenon. So, should I use hierarchical instead of seemingly unrelated regression? Which technique helps me to extract the most "juicy information".

Could someone advise me what the best technique to apply?

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