Descriptive statistics
| Variables | Mean | SD | 25% percentile | Median | 75% percentile | Min | Max |
|---|---|---|---|---|---|---|---|
| Dependent variables | |||||||
| Sales growth | 0.024 | 0.111 | 0.000 | 0.002 | 0.042 | −0.809 | 0.811 |
| Profitability | 0.023 | 0.037 | 0.001 | 0.003 | 0.047 | −0.107 | 0.235 |
| Certification | |||||||
| UNGC | 0.355 | 0.478 | 0.000 | 0.000 | 1.000 | 0.000 | 1.000 |
| OHSAS18001 | 0.715 | 0.451 | 0.000 | 1.000 | 1.000 | 0.000 | 1.000 |
| KYOTO | 0.348 | 0.477 | 0.000 | 0.000 | 1.000 | 0.000 | 1.000 |
| UNGC_ OHSAS18001 | 0.127 | 0.334 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| UNGC_ KYOTO | 0.013 | 0.115 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| OHSAS18001_ KYOTO | 0.154 | 0.362 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| UNGC_ OHSAS18001_ KYOTO | 0.118 | 0.386 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| Control variables for firm features | |||||||
| Firm size | 13.869 | 1.935 | 12.506 | 13.681 | 14.909 | 9.157 | 18.862 |
| Leverage | 0.431 | 0.201 | 0.289 | 0.399 | 0.540 | 0.076 | 0.965 |
| Eqi | −0.720 | 0.404 | −0.805 | −0.705 | −0.385 | −1.573 | 0.118 |
| Env_Dyn | 0.191 | 0.703 | 0.003 | 0.013 | 0.053 | 0 | 4.880 |
| Mkt_share | 0.006 | 0.06 | 0.000 | 0.000 | 0.000 | 0.000 | 0.682 |
| Mtb | 0.002 | 0.004 | 0.000 | 0.000 | 0.001 | 0.000 | 0.078 |
| Variables | Mean | SD | 25% percentile | Median | 75% percentile | Min | Max |
|---|---|---|---|---|---|---|---|
| Sales growth | 0.024 | 0.111 | 0.000 | 0.002 | 0.042 | −0.809 | 0.811 |
| Profitability | 0.023 | 0.037 | 0.001 | 0.003 | 0.047 | −0.107 | 0.235 |
| UNGC | 0.355 | 0.478 | 0.000 | 0.000 | 1.000 | 0.000 | 1.000 |
| OHSAS18001 | 0.715 | 0.451 | 0.000 | 1.000 | 1.000 | 0.000 | 1.000 |
| KYOTO | 0.348 | 0.477 | 0.000 | 0.000 | 1.000 | 0.000 | 1.000 |
| UNGC_ OHSAS18001 | 0.127 | 0.334 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| UNGC_ KYOTO | 0.013 | 0.115 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| OHSAS18001_ KYOTO | 0.154 | 0.362 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| UNGC_ OHSAS18001_ KYOTO | 0.118 | 0.386 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |
| Firm size | 13.869 | 1.935 | 12.506 | 13.681 | 14.909 | 9.157 | 18.862 |
| Leverage | 0.431 | 0.201 | 0.289 | 0.399 | 0.540 | 0.076 | 0.965 |
| Eqi | −0.720 | 0.404 | −0.805 | −0.705 | −0.385 | −1.573 | 0.118 |
| Env_Dyn | 0.191 | 0.703 | 0.003 | 0.013 | 0.053 | 0 | 4.880 |
| Mkt_share | 0.006 | 0.06 | 0.000 | 0.000 | 0.000 | 0.000 | 0.682 |
| Mtb | 0.002 | 0.004 | 0.000 | 0.000 | 0.001 | 0.000 | 0.078 |
Source(s): Authors’ own work
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