Table 10 Mandatory sustainability... | Emerald Publishing

Table 10

Mandatory sustainability reporting and cost of goods sold stickiness

Mandatory sustainability reporting and cost of goods sold stickiness
Dependent variable: log(ΔCOGS)
	Coefficients (t-stats)
$\log (Δ R e v e n u e)$ (⁠ $β_{1})$	0.852*** (30.484)
${D e c r e a s e}_{i t} \times \log (Δ R e v e n u e)$ (⁠ $β_{2})$	−0.798* (−2.638)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {S u c c e s s i v e D e c r e a s e}_{i t}$ (⁠ $β_{3}$ ⁠)	−0.160 (−2.317)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {E U_D i r e c t i v e}_{i t}$ (⁠ $β_{4}$ ⁠)	−0.260 (−4.414)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {E c o n o m i c_g r o w t h}_{i t}$ (⁠ $β_{5}$ ⁠)	0.014 (0.194)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {A s s e t_t u r n o v e r}_{i t}$ (⁠ $β_{6}$ ⁠)	−0.277** (−8.453)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {R O A}_{i t}$ (⁠ $β_{7}$ ⁠)	−3.783*** (−4.186)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {T o b i n s_q}_{i t}$ (⁠ $β_{8}$ ⁠)	0.080* (1.667)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {L e v e r a g e}_{i t}$ (⁠ $β_{9}$ ⁠)	−0.798*** (−4.229)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {B o a r d_s i z e}_{i t}$ (⁠ $β_{10}$ ⁠)	0.614*** (5.196)
Adj. R²	0.12
N	11,280

Mandatory sustainability reporting and cost of goods sold stickiness
Dependent variable: log(ΔCOGS)
	Coefficients (t-stats)
$\log (Δ R e v e n u e)$ ( $β_{1})$	0.852*** (30.484)
${D e c r e a s e}_{i t} \times \log (Δ R e v e n u e)$ ( $β_{2})$	−0.798* (−2.638)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {S u c c e s s i v e D e c r e a s e}_{i t}$ ( $β_{3}$ )	−0.160 (−2.317)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {E U_D i r e c t i v e}_{i t}$ ( $β_{4}$ )	−0.260 (−4.414)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {E c o n o m i c_g r o w t h}_{i t}$ ( $β_{5}$ )	0.014 (0.194)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {A s s e t_t u r n o v e r}_{i t}$ ( $β_{6}$ )	−0.277** (−8.453)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {R O A}_{i t}$ ( $β_{7}$ )	−3.783*** (−4.186)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {T o b i n s_q}_{i t}$ ( $β_{8}$ )	0.080* (1.667)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {L e v e r a g e}_{i t}$ ( $β_{9}$ )	−0.798*** (−4.229)
${D e c r e a s e}_{i t} \times \log ({Δ R e v e n u e}_{i t}) \times {B o a r d_s i z e}_{i t}$ ( $β_{10}$ )	0.614*** (5.196)
Adj. R²	0.12
N	11,280

Note(s): ***, **, * represent 1%, 5% and 10% significance levels respectively

Source(s): Created by authors