Table 9 The moderating effect of ESG on... | Emerald Publishing

Table 9

The moderating effect of ESG on FP-BGD relation in cases of Entire period, Voluntary and Mandatory ESG reporting

	Entire period		Voluntary		Mandatory
	Coef.	p-value	Coef.	p-value	Coef.	p-value
BGD	0.0646	0.282	0.0357	0.424	0.3155**	0.040
ESG	−0.0104*	0.098	−0.0116	0.249	−0.0090	0.644
ESGBGD	−0.0006	0.517	−0.0001	0.922	−0.0064**	0.037
AGE	0.0142	0.562	−0.0158	0.706	0.1453	0.230
TLTA	0.1545	0.626	1.2495	0.214	−0.2274	0.441
LTA	−0.4869	0.180	−0.4527	0.215	−0.5943	0.350
Prob > chi²	0.000		0.0322		0.000

	Entire period		Voluntary		Mandatory
	Coef.	p-value	Coef.	p-value	Coef.	p-value
BGD	0.0646	0.282	0.0357	0.424	0.3155**	0.040
ESG	−0.0104*	0.098	−0.0116	0.249	−0.0090	0.644
ESGBGD	−0.0006	0.517	−0.0001	0.922	−0.0064**	0.037
AGE	0.0142	0.562	−0.0158	0.706	0.1453	0.230
TLTA	0.1545	0.626	1.2495	0.214	−0.2274	0.441
LTA	−0.4869	0.180	−0.4527	0.215	−0.5943	0.350
Prob > chi²	0.000		0.0322		0.000

Note(s): **Significant at the 5% level; *Significant at the 10% level;

N (firm-years) = 560

Source(s): The table is developed by the authors