Table 12 ROA and prior-year... | Emerald Publishing

Table 12

ROA and prior-year environmental pillar

Variables	Estimate	Std. Error	t-value	Sig
Env_t−1	0.000246	0.000093	2.655	**
Size (log total assets)	−0.001345	0.000264	−5.065	***
Year 2022	0.023166	0.007724	2.999	**
Year 2023	0.040086	0.006855	5.847	***
Year 2024	0.040922	0.006892	5.937	***
Constant	0.059700	0.011046	5.404	***
Firm FE	No
Year FE	Yes
N. Observations	1,180
R-squared	0.067
Wald test	16.127***

Variables	Estimate	Std. Error	t-value	Sig
Env_t−1	0.000246	0.000093	2.655	**
Size (log total assets)	−0.001345	0.000264	−5.065	***
Year 2022	0.023166	0.007724	2.999	**
Year 2023	0.040086	0.006855	5.847	***
Year 2024	0.040922	0.006892	5.937	***
Constant	0.059700	0.011046	5.404	***
Firm FE	No
Year FE	Yes
N. Observations	1,180
R-squared	0.067
Wald test	16.127***

Note(s): *p < 0.1, **p < 0.05, ***p < 0.01

Source(s): Author’s own work