Table 5

The conditioning effect results

VariablesGIp-value
ESG0.092***0.011
Gov−0.0310.027
Interact0.046**0.017
Age−0.062**0.021
Size0.524***0.011
Lev0.195**0.071
Growth0.070**0.026
RD0.022***0.003
Indep0.1950.193
TobinQ0.027***0.005
Duality−0.0110.026
_cons−10.464***0.269
IndYes
YearYes
r20.419
r2_a0.414
F79.892

Note(s): ***, ** and * indicate significant confidence levels at 1, 5 and 10%, respectively

Source(s): Developed by the authors

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