Assessment of the MEs of female board representation on rating categories
| Rating | AMEs | Sig. |
|---|---|---|
| AAA | 0.0002077*** | 0.006 |
| AA+ to AA− | 0.0011658*** | 0.000 |
| A+ to A− | 0.0131536*** | 0.000 |
| BBB+ to BBB− | 0.0186087*** | 0.000 |
| BB+ to BB− | −0.0055564*** | 0.000 |
| B+ to B− | −0.0082796*** | 0.000 |
| CCC+ to D/SD | −0.0192997*** | 0.000 |
| Rating | AMEs | Sig. |
|---|---|---|
| AAA | 0.0002077*** | 0.006 |
| AA+ to AA− | 0.0011658*** | 0.000 |
| A+ to A− | 0.0131536*** | 0.000 |
| BBB+ to BBB− | 0.0186087*** | 0.000 |
| BB+ to BB− | −0.0055564*** | 0.000 |
| B+ to B− | −0.0082796*** | 0.000 |
| CCC+ to D/SD | −0.0192997*** | 0.000 |
Note(s): Average MEs of female representation on the board on the probability of receiving each rating category. Significance levels are indicated as follows: ***1 level, **5 level and *10% level
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