Table 6. Regression – RQ2 Sales growth... | Emerald Publishing

Table 6.

Regression – RQ2

	Sales growth		Profitability
	Estimate	p-value	Estimate	p-value
UNGC	−0.004	0.824	0.006	0.382
OHSAS18001	0.028	0.033	0.033	0.000
KYOTO	0.002	0.872	0.027	0.163
UNGC_ OHSAS18001	0.029	0.074	0.055	0.000
UNGC_ KYOTO	0.046	0.536	−0.067	0.154
OHSAS18001_ KYOTO	0.005	0.799	0.029	0.002
UNGC_ OHSAS18001_ KYOTO	0.035	0.163	0.016	0.045
Firm size	−0.001	0.622	−0.001	0.651
Leverage	−0.024	0.321	0.018	0.284
Eqi	0.008	0.550	−0.013	0.103
Env_Dyn	0.002	0.596	−0.001	0.730
Mkt_share	−0.003	0.916	−0.012	0.650
Mtb	−0.425	0.615	0.175	0.230
Intercept	0.070	0.410	0.038	0.722
Year fixed effects	Included		Included
Industry fixed effects	Included		Included
Mean VIF	2.44		2.35
Max VIF	3.25		3.88
Adj. R²	0.129		0.168
N	517		517

	Sales growth		Profitability
	Estimate	p-value	Estimate	p-value
UNGC	−0.004	0.824	0.006	0.382
OHSAS18001	0.028	0.033	0.033	0.000
KYOTO	0.002	0.872	0.027	0.163
UNGC_ OHSAS18001	0.029	0.074	0.055	0.000
UNGC_ KYOTO	0.046	0.536	−0.067	0.154
OHSAS18001_ KYOTO	0.005	0.799	0.029	0.002
UNGC_ OHSAS18001_ KYOTO	0.035	0.163	0.016	0.045
Firm size	−0.001	0.622	−0.001	0.651
Leverage	−0.024	0.321	0.018	0.284
Eqi	0.008	0.550	−0.013	0.103
Env_Dyn	0.002	0.596	−0.001	0.730
Mkt_share	−0.003	0.916	−0.012	0.650
Mtb	−0.425	0.615	0.175	0.230
Intercept	0.070	0.410	0.038	0.722
Year fixed effects	Included		Included
Industry fixed effects	Included		Included
Mean VIF	2.44		2.35
Max VIF	3.25		3.88
Adj. R²	0.129		0.168
N	517		517

Note(s): p-values are two-tailed and robust to heteroscedasticity

Source(s): Authors’ own work