Table 8 Robustness test GEE results...

Table 8

Robustness test GEE results

Dependent variable	ESGP	EnvP	SocP	GovP
Narcissism	−0.368	−1.284	6.521^*	0.523
Narcissism	(1.564)	(2.760)	(2.868)	(1.062)
CAge	−13.42	−7.772	−11.05	−31.14^**
CAge	(10.63)	(20.94)	(27.39)	(11.03)
CGender	−6.738	−2.203	37.81^**	2.044
CGender	(5.936)	(7.884)	(12.55)	(2.510)
FSize	1.868	2.731	5.022	0.935
FSize	(1.489)	(3.035)	(3.039)	(1.196)
ROA	16.11^*	19.70	27.62^*	15.81^*
ROA	(8.039)	(13.41)	(13.90)	(6.700)
BSize	−0.255	−1.544^*	−1.141	−0.127
BSize	(0.857)	(0.661)	(0.686)	(0.723)
FAge	−0.0167	0.102	−0.372	0.102
FAge	(0.151)	(0.254)	(0.346)	(0.130)
Constant	−4479.7^***	−7021.2^***	−7082.8^***	−2459.9
Constant	(1262.6)	(1979.0)	(1746.0)	(1269.7)
N	132	132	132	132
Wald χ²(p-value)	0.0043	0.0001	0.000	0.000

Dependent variable	ESGP	EnvP	SocP	GovP
Narcissism	−0.368	−1.284	6.521^*	0.523
Narcissism	(1.564)	(2.760)	(2.868)	(1.062)
CAge	−13.42	−7.772	−11.05	−31.14^**
CAge	(10.63)	(20.94)	(27.39)	(11.03)
CGender	−6.738	−2.203	37.81^**	2.044
CGender	(5.936)	(7.884)	(12.55)	(2.510)
FSize	1.868	2.731	5.022	0.935
FSize	(1.489)	(3.035)	(3.039)	(1.196)
ROA	16.11^*	19.70	27.62^*	15.81^*
ROA	(8.039)	(13.41)	(13.90)	(6.700)
BSize	−0.255	−1.544^*	−1.141	−0.127
BSize	(0.857)	(0.661)	(0.686)	(0.723)
FAge	−0.0167	0.102	−0.372	0.102
FAge	(0.151)	(0.254)	(0.346)	(0.130)
Constant	−4479.7^***	−7021.2^***	−7082.8^***	−2459.9
Constant	(1262.6)	(1979.0)	(1746.0)	(1269.7)
N	132	132	132	132
Wald χ²(p-value)	0.0043	0.0001	0.000	0.000

Note(s): Standard errors in parentheses; ^*p < 0.05, ^**p < 0.01, ^***p < 0.001

ESGP: ESG Performance; EnvP: Environmental Performance; SocP: Social Performance; GovP: Governance Performance; CAge: CEO Age; CGender: CEO Gender; FSize: Firm Size; ROA: Return on Asset; FAge: Firm Age; BSize: Board Size

Source(s): Authors' own creation

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