Subsample Analysis: ESG Effects in High- vs. Low-Governance BRICS Countries
| Governance subgroup | Tobin's Q (ESG) | Ownership change (ESG) |
|---|---|---|
| High-governance | 0.017*** | 0.0081** |
| Low-governance | 0.005 (ns) | 0.0019 (ns) |
| Governance subgroup | Tobin's Q | Ownership change |
|---|---|---|
| High-governance | 0.017*** | 0.0081** |
| Low-governance | 0.005 (ns) | 0.0019 (ns) |
Note(s): *Separate regressions run with the same controls. “Ns” indicates not significant at 10%
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.