Table 8 Regression results of the models...

Table 8

Regression results of the models with the Brand value/TA ratio as dependent

	Brand Value/TA
	1	2	3	4
Bank size	0.193	−0.0241	−0.0917	0.312
	(0.62)	(−0.11)	(−0.22)	(1.01)
RWA/TA	0.0597	−0.0626	−0.0660	0.0459
	(0.54)	(−0.91)	(−0.48)	(0.44)
ESG score	1.109
	(1.23)
Environmental score		−0.487
		(−0.94)
Social score			−0.443
			(−0.33)
Governance score				1.710*
				(2.48)
Bank size × RWA/TA	−0.00321	0.00247	0.00292	−0.00252
	(−0.59)	(0.70)	(0.42)	(−0.49)
Bank size × ESG score	−0.0573
	(−1.30)
RWA/TA × Esg score	−0.0329†
	(−1.75)
Bank size × RWA/TA × ESG score	0.00169*, ^a
	(1.84)
Bank size × Environmental score		0.0179
		(0.70)
RWA/TA × Environmental score		0.00606
		(0.56)
Bank size × RWA/TA × Environmental score		−0.000153
		(−0.28)
Bank size × Social score			0.0184
			(0.28)
RWA/TA × Social score			−0.00442
			(−0.17)
Bank size × RWA/TA × Social score			0.000293
			(0.23)
Bank size × Governance score				−0.0862*
				(−2.58)
RWA/TA × Governance score				−0.0309*
				(−2.10)
Bank size × RWA/TA × Governance score				0.00159*^a
				(2.26)
Constant	−3.885	0.817	1.937	−6.129
	(−0.60)	(0.18)	(0.23)	(−0.95)
Controls	yes	yes	yes	yes
Bank FE	yes	yes	yes	yes
Year FE	yes	yes	yes	yes
N	797	797	797	797
F	17.62***	16.83***	17.25***	19.68***
R²	0.271	0.301	0.259	0.274

	Brand Value/TA
	1	2	3	4
Bank size	0.193	−0.0241	−0.0917	0.312
	(0.62)	(−0.11)	(−0.22)	(1.01)
RWA/TA	0.0597	−0.0626	−0.0660	0.0459
	(0.54)	(−0.91)	(−0.48)	(0.44)
ESG score	1.109
	(1.23)
Environmental score		−0.487
		(−0.94)
Social score			−0.443
			(−0.33)
Governance score				1.710*
				(2.48)
Bank size × RWA/TA	−0.00321	0.00247	0.00292	−0.00252
	(−0.59)	(0.70)	(0.42)	(−0.49)
Bank size × ESG score	−0.0573
	(−1.30)
RWA/TA × Esg score	−0.0329†
	(−1.75)
Bank size × RWA/TA × ESG score	0.00169*, ^a
	(1.84)
Bank size × Environmental score		0.0179
		(0.70)
RWA/TA × Environmental score		0.00606
		(0.56)
Bank size × RWA/TA × Environmental score		−0.000153
		(−0.28)
Bank size × Social score			0.0184
			(0.28)
RWA/TA × Social score			−0.00442
			(−0.17)
Bank size × RWA/TA × Social score			0.000293
			(0.23)
Bank size × Governance score				−0.0862*
				(−2.58)
RWA/TA × Governance score				−0.0309*
				(−2.10)
Bank size × RWA/TA × Governance score				0.00159*^a
				(2.26)
Constant	−3.885	0.817	1.937	−6.129
	(−0.60)	(0.18)	(0.23)	(−0.95)
Controls	yes	yes	yes	yes
Bank FE	yes	yes	yes	yes
Year FE	yes	yes	yes	yes
N	797	797	797	797
F	17.62***	16.83***	17.25***	19.68***
R²	0.271	0.301	0.259	0.274

One tailed p-value

***, * and † denote significance at 0.1%, 5% and 10%, respectively, with t-statistics in parentheses

Source(s): Authors' own work

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