Table 4 Regression models Brand value 1... | Emerald Publishing

Table 4

Regression models

	Brand value
	1	2	3	4	5
Bank size	1.066***	1.057***	0.972***	1.011***	1.014***
	(7.29)	(7.56)	(7.38)	(7.82)	(7.76)
Bank age	0.083	0.00521	0.0190	0.00144	0.00737
	(0.45)	(0.03)	(0.10)	(0.01)	(0.04)
Business model	1.801***	1.874***	1.938***	1.892***	1.901***
	(3.71)	(4.02)	(4.21)	(4.24)	(4.16)
Intangible assets	−0.233*	−0.197	−0.181	−0.197	−0.195
	(−2.02)	(−1.48)	(−1.43)	(−1.49)	(−1.48)
Asset growth	−0.003*	−0.00311	−0.00291	−0.00309	−0.00305
	(−2.00)	(−1.58)	(−1.44)	(−1.56)	(−1.54)
Profitability	0.059	0.0240	0.0241	0.0252	0.0239
	(1.30)	(0.48)	(0.49)	(0.50)	(0.48)
Credit risk	−0.047*	−0.0301	−0.0297	−0.0302	−0.0307
	(−2.05)	(−1.14)	(−1.10)	(−1.13)	(−1.19)
RWA/TA	0.001	−0.000136	−0.000221	−0.000314	−0.000317
	(0.28)	(−0.03)	(−0.05)	(−0.07)	(−0.07)
GDP	−0.011*	−0.008	−0.009	−0.008	−0.008
	(−2.05)	(−1.45)	(−1.55)	(−1.44)	(−1.44)
ESG score		0.004
		(0.23)
Environmental score			0.011
			(0.87)
Social score				0.008
				(0.47)
Governance score					−0.002
					(−0.14)
Constant	−7.887**	−7.355*	−7.394*	−7.450*	−7.381*
	(−2.76)	(−2.61)	(−2.58)	(−2.61)	(−2.55)
Bank FE	yes	yes	yes	yes	yes
Year FE	yes	yes	yes	yes	yes
N	1,004	797	797	797	797
F	48.99***	34.66***	33.77***	37.12***	35.64***
R²	0.642	0.669	0.670	0.669	0.669

	Brand value
	1	2	3	4	5
Bank size	1.066***	1.057***	0.972***	1.011***	1.014***
	(7.29)	(7.56)	(7.38)	(7.82)	(7.76)
Bank age	0.083	0.00521	0.0190	0.00144	0.00737
	(0.45)	(0.03)	(0.10)	(0.01)	(0.04)
Business model	1.801***	1.874***	1.938***	1.892***	1.901***
	(3.71)	(4.02)	(4.21)	(4.24)	(4.16)
Intangible assets	−0.233*	−0.197	−0.181	−0.197	−0.195
	(−2.02)	(−1.48)	(−1.43)	(−1.49)	(−1.48)
Asset growth	−0.003*	−0.00311	−0.00291	−0.00309	−0.00305
	(−2.00)	(−1.58)	(−1.44)	(−1.56)	(−1.54)
Profitability	0.059	0.0240	0.0241	0.0252	0.0239
	(1.30)	(0.48)	(0.49)	(0.50)	(0.48)
Credit risk	−0.047*	−0.0301	−0.0297	−0.0302	−0.0307
	(−2.05)	(−1.14)	(−1.10)	(−1.13)	(−1.19)
RWA/TA	0.001	−0.000136	−0.000221	−0.000314	−0.000317
	(0.28)	(−0.03)	(−0.05)	(−0.07)	(−0.07)
GDP	−0.011*	−0.008	−0.009	−0.008	−0.008
	(−2.05)	(−1.45)	(−1.55)	(−1.44)	(−1.44)
ESG score		0.004
		(0.23)
Environmental score			0.011
			(0.87)
Social score				0.008
				(0.47)
Governance score					−0.002
					(−0.14)
Constant	−7.887**	−7.355*	−7.394*	−7.450*	−7.381*
	(−2.76)	(−2.61)	(−2.58)	(−2.61)	(−2.55)
Bank FE	yes	yes	yes	yes	yes
Year FE	yes	yes	yes	yes	yes
N	1,004	797	797	797	797
F	48.99***	34.66***	33.77***	37.12***	35.64***
R²	0.642	0.669	0.670	0.669	0.669

Note(s): ***, **, * and † denote significance at 0.1%, 1%, 5% and 10%, respectively, with t-statistics in parentheses

Source(s): Authors' own work