Firm characteristics relating to reporting sustainability indicatorsa
| 25th quantile | |||||
|---|---|---|---|---|---|
| Indicator quantity | Indicator dimensions | Indicator topics | Target connection | Share target connection | |
| Log employed | 0.323** (0.015, 0.693) | 0.155 (−0.050, 0.436) | 0.233 (−0.077, 0.619) | 0.155 (−0.267, 0.912) | 0.015 (−0.052, 0.106) |
| Log net turnover | 0.493*** (0.143, 0.860) | 0.282** (0.069, 0.537) | 0.418** (0.103, 0.800) | 0.607** (0.062, 1.008) | 0.078 (−0.014, 0.130) |
| Beverage industry | 0.227 (−0.603, 0.880) | 0.067 (−0.368, 0.403) | −0.038 (−0.498, 0.375) | 0.166 (−1.168, 1.290) | 0.032 (−0.189, 0.199) |
| Wholesale | −0.521** (−1.139, −0.040) | −0.315 (−0.563, 0.080) | −0.455** (−0.899, −0.084) | −0.358 (−1.203, 0.485) | −0.087 (−0.232, 0.046) |
| Retail | −1.437*** (−2.926, −0.557) | −0.589 (−1.678, 0.206) | −1.256** (−3.136, −0.243) | −1.110 ** (−2.888, −0.256) | −0.114 (−0.298, 0.251) |
| Nordics | 0.255 (−0.419, 0.825) | 0.137 (−0.639, 0.703) | −0.068 (−1.038, 1.182) | −1.536* (−4.975, 0.100) | −0.241** (−0.863, −0.008) |
| European | 1.315*** (0.708, 1.846) | 0.740*** (0.182, 1.039) | 0.981*** (0.450, 1.385) | 0.915 (−0.378, 1.737) | 0.153 (−0.062, 0.299) |
| Global | 0.736** (−0.090, 1.330) | 0.418* (−0.056, 0.871) | 0.558* (−0.011 1.080) | 0.272 (−0.634, 1.161) | 0.086 (−0.151, 0.270) |
| 2018 | 0.663* (−0.042, 1.607) | 0.455 (−0.393, 1.214) | 0.532 (−0.442, 1.581) | 0.105 (−1.114, 1.483) | 0.060 (−0.124, 0.243) |
| 2019 | 1.211*** (0.482, 1.935) | 0.896*** (0.157, 1.476) | 1.131** (0.180, 1.940) | 0.669*** (0.290, 1.186) | 0.120*** (0.043, 0.282) |
| 2020 | 1.451*** (0.672, 2.280) | 1.100*** (0.450, 1.624) | 1.382*** (0.457, 2.115) | 1.258*** (0.693, 1.794) | 0.207*** (0.082, 0.323) |
| 2021 | 1.900*** (1.139, 2.723) | 1.265*** (0.614, 1.716) | 1.528*** (0.675, 2.089) | 1.814*** (1.203, 2.228) | 0.354*** (0.196, 0.439) |
| Cons | −8.652*** (−12.34, −5.504) | −4.888*** (−7.636, −2.901) | −7.067*** (−11.29,−3.979) | −9.792*** (−14.042, −4.975) | −1.301** (−1.924, −0.195) |
| Observations | 460 | 460 | 460 | 460 | 460 |
| 25th quantile | |||||
|---|---|---|---|---|---|
| Indicator quantity | Indicator dimensions | Indicator topics | Target connection | Share target connection | |
| Log employed | 0.323** (0.015, 0.693) | 0.155 (−0.050, 0.436) | 0.233 (−0.077, 0.619) | 0.155 (−0.267, 0.912) | 0.015 (−0.052, 0.106) |
| Log net turnover | 0.493*** (0.143, 0.860) | 0.282** (0.069, 0.537) | 0.418** (0.103, 0.800) | 0.607** (0.062, 1.008) | 0.078 (−0.014, 0.130) |
| Beverage industry | 0.227 (−0.603, 0.880) | 0.067 (−0.368, 0.403) | −0.038 (−0.498, 0.375) | 0.166 (−1.168, 1.290) | 0.032 (−0.189, 0.199) |
| Wholesale | −0.521** (−1.139, −0.040) | −0.315 (−0.563, 0.080) | −0.455** (−0.899, −0.084) | −0.358 (−1.203, 0.485) | −0.087 (−0.232, 0.046) |
| Retail | −1.437*** (−2.926, −0.557) | −0.589 (−1.678, 0.206) | −1.256** (−3.136, −0.243) | −1.110 ** (−2.888, −0.256) | −0.114 (−0.298, 0.251) |
| Nordics | 0.255 (−0.419, 0.825) | 0.137 (−0.639, 0.703) | −0.068 (−1.038, 1.182) | −1.536* (−4.975, 0.100) | −0.241** (−0.863, −0.008) |
| European | 1.315*** (0.708, 1.846) | 0.740*** (0.182, 1.039) | 0.981*** (0.450, 1.385) | 0.915 (−0.378, 1.737) | 0.153 (−0.062, 0.299) |
| Global | 0.736** (−0.090, 1.330) | 0.418* (−0.056, 0.871) | 0.558* (−0.011 1.080) | 0.272 (−0.634, 1.161) | 0.086 (−0.151, 0.270) |
| 2018 | 0.663* (−0.042, 1.607) | 0.455 (−0.393, 1.214) | 0.532 (−0.442, 1.581) | 0.105 (−1.114, 1.483) | 0.060 (−0.124, 0.243) |
| 2019 | 1.211*** (0.482, 1.935) | 0.896*** (0.157, 1.476) | 1.131** (0.180, 1.940) | 0.669*** (0.290, 1.186) | 0.120*** (0.043, 0.282) |
| 2020 | 1.451*** (0.672, 2.280) | 1.100*** (0.450, 1.624) | 1.382*** (0.457, 2.115) | 1.258*** (0.693, 1.794) | 0.207*** (0.082, 0.323) |
| 2021 | 1.900*** (1.139, 2.723) | 1.265*** (0.614, 1.716) | 1.528*** (0.675, 2.089) | 1.814*** (1.203, 2.228) | 0.354*** (0.196, 0.439) |
| Cons | −8.652*** (−12.34, −5.504) | −4.888*** (−7.636, −2.901) | −7.067*** (−11.29,−3.979) | −9.792*** (−14.042, −4.975) | −1.301** (−1.924, −0.195) |
| Observations | 460 | 460 | 460 | 460 | 460 |
| 50th quantile | |||||
|---|---|---|---|---|---|
| Indicator quantity | Indicator dimensions | Indicator topics | Target connection | Share target connection | |
| Log employed | 0.091 (−0.297, 0.313) | −0.037 (−0.219, 0.113) | −0.054 (−0.307, 0.186) | 0.067 (−0.194, 0.449) | 0.006 (−0.052, 0.080) |
| Log net turnover | 0.559*** (0.402, 0.909) | 0.299*** (0.115, 0.494) | 0.505*** (0.268, 0.825) | 0.591*** (0.168, 0.850) | 0.078* (−0.002, 0.157) |
| Beverage industry | 0.144 (−0.616, 0.985) | −0.105 (−0.491, 0.282) | −0.116 (−0.717, 0.517) | 0.324 (−0.763, 1.307) | 0.081 (−0.098, 0.236) |
| Wholesale | −0.248 (−0.616, 0.126) | −0.188 (−0.467, 0.124) | −0.278 (−0.621, 0.143) | −0.437* (−0.951, 0.061) | −0.122* (−0.242, 0.009) |
| Retail | −0.529 (−1.426, 0.149) | 0.006 (−0.347, 0.308) | −0.330 (−0.925, 0.205) | −0.714 (−1.597, 0.325) | −0.084 (−0.263, 0.099) |
| Nordics | −0.081 (−1.043, 0.545) | 0.125 (−0.311, 0.679) | 0.052 (−0.836, 0.999) | −0.895 (−2.795, 1.225) | −0.077 (−0.412, 0.326) |
| European | 1.237*** (0.624, 1.656) | 0.546** (0.117, 0.911) | 0.924*** (0.625, 1.489) | 0.838*** (0.217, 1.306) | 0.132** (0.027, 0.222) |
| Global | 0.891* (−0.107, 1.432) | 0.449* (−0.032, 0.878) | 0.715** (0.038, 1.327) | 0.661** (0.119, 1.050) | 0.127** (0.023, 0.239) |
| 2018 | 0.645** (0.166, 1.409) | 0.456 ( −0.226, 0.971) | 0.597 (−0.200, 1.336) | 0.379 (−0.346, 0.960) | 0.055 (−0.058, 0.151) |
| 2019 | 1.005*** (0.664, 1.701) | 0.734** (0.103, 1.183) | 0.911*** (0.245, 1.381) | 1.002*** (0.319, 1.756) | 0.150** (0.003, 0.285) |
| 2020 | 1.282*** (0.964, 1.926) | 0.883*** (0.255, 1.327) | 1.122*** (0.245, 1.382) | 1.593*** (0.808, 2.063) | 0.258*** (0.092, 0.401) |
| 2021 | 1.634*** (1.185, 2.338) | 0.975*** (0.364, 1.477) | 1.280*** (0.636, 1.894) | 2.028*** (1.373, 2.295) | 0.364*** (0.218, 0.443) |
| Cons | −7.377*** (−10.663, −6.015) | −3.259*** (−5.343, −0.974) | −5.880*** (−9.095, −3.780) | −8.613*** (−11.092, −3.999) | −1.124*** (−1.976, −0.305) |
| 460 | 460 | 460 | 460 | 460 | |
| 50th quantile | |||||
|---|---|---|---|---|---|
| Indicator quantity | Indicator dimensions | Indicator topics | Target connection | Share target connection | |
| Log employed | 0.091 (−0.297, 0.313) | −0.037 (−0.219, 0.113) | −0.054 (−0.307, 0.186) | 0.067 (−0.194, 0.449) | 0.006 (−0.052, 0.080) |
| Log net turnover | 0.559*** (0.402, 0.909) | 0.299*** (0.115, 0.494) | 0.505*** (0.268, 0.825) | 0.591*** (0.168, 0.850) | 0.078* (−0.002, 0.157) |
| Beverage industry | 0.144 (−0.616, 0.985) | −0.105 (−0.491, 0.282) | −0.116 (−0.717, 0.517) | 0.324 (−0.763, 1.307) | 0.081 (−0.098, 0.236) |
| Wholesale | −0.248 (−0.616, 0.126) | −0.188 (−0.467, 0.124) | −0.278 (−0.621, 0.143) | −0.437* (−0.951, 0.061) | −0.122* (−0.242, 0.009) |
| Retail | −0.529 (−1.426, 0.149) | 0.006 (−0.347, 0.308) | −0.330 (−0.925, 0.205) | −0.714 (−1.597, 0.325) | −0.084 (−0.263, 0.099) |
| Nordics | −0.081 (−1.043, 0.545) | 0.125 (−0.311, 0.679) | 0.052 (−0.836, 0.999) | −0.895 (−2.795, 1.225) | −0.077 (−0.412, 0.326) |
| European | 1.237*** (0.624, 1.656) | 0.546** (0.117, 0.911) | 0.924*** (0.625, 1.489) | 0.838*** (0.217, 1.306) | 0.132** (0.027, 0.222) |
| Global | 0.891* (−0.107, 1.432) | 0.449* (−0.032, 0.878) | 0.715** (0.038, 1.327) | 0.661** (0.119, 1.050) | 0.127** (0.023, 0.239) |
| 2018 | 0.645** (0.166, 1.409) | 0.456 ( −0.226, 0.971) | 0.597 (−0.200, 1.336) | 0.379 (−0.346, 0.960) | 0.055 (−0.058, 0.151) |
| 2019 | 1.005*** (0.664, 1.701) | 0.734** (0.103, 1.183) | 0.911*** (0.245, 1.381) | 1.002*** (0.319, 1.756) | 0.150** (0.003, 0.285) |
| 2020 | 1.282*** (0.964, 1.926) | 0.883*** (0.255, 1.327) | 1.122*** (0.245, 1.382) | 1.593*** (0.808, 2.063) | 0.258*** (0.092, 0.401) |
| 2021 | 1.634*** (1.185, 2.338) | 0.975*** (0.364, 1.477) | 1.280*** (0.636, 1.894) | 2.028*** (1.373, 2.295) | 0.364*** (0.218, 0.443) |
| Cons | −7.377*** (−10.663, −6.015) | −3.259*** (−5.343, −0.974) | −5.880*** (−9.095, −3.780) | −8.613*** (−11.092, −3.999) | −1.124*** (−1.976, −0.305) |
| 460 | 460 | 460 | 460 | 460 | |
| 75th quantile | |||||
|---|---|---|---|---|---|
| Indicator quantity | Indicator dimensions | Indicator topics | Target connection | Share target connection | |
| Log employed | 0.125 (−0.163, 0.397) | −0.015 (−0.097, 0.071) | −0.025 (−0.152, 0.131) | 0.107 (−0.271, 0.516) | 0.002 (−0.067, 0.172) |
| Log net turnover | 0.273* (−0.048, 0.575) | 0.113** (0.013, 0.179) | 0.257*** (0.079, 0.354) | 0.447* (−0.006, 0.911) | 0.073 (−0.100, 0.153) |
| Beverage industry | 0.130 (−0.562, 0.799) | −0.117 (−0.454, 0.093) | −0.031 (−0.358, 0.209) | 0.556 (−0.141, 1.187) | 0.055 (−0.100, 0.247) |
| Wholesale | −0.271** (−0.701, −0.018) | −0.113 (−0.254, −0.040) | −0.218*** (−0.385, −0.069) | −0.390** (−1.001, −0.121) | −0.154 (−0.360, 0.123) |
| Retail | −0.253 (−0.751, 0.267) | 0.087 (−0.047, 0.195) | −0.113 (−0.300, 0.112) | −0.279 (−0.707, 0.359) | −0.107 (−0.255, 0.168) |
| Nordics | −0.272* (−0.785, 0.055) | −0.118 −0.335, 0.074) | −0.173** (−0.306, −0.031) | −0.070 (−0.714, 1.108) | 0.051 (−0.119, 0.327) |
| European | 0.452* (−0.005, 0.582) | 0.156** (0.012, 0.295) | 0.262*** (0.062, 0.452) | 0.734*** (0.476, 1.180) | 0.143*** (0.062, 0.268) |
| Global | 0.833** (0.163, 1.208) | 0.287*** (0.124, 0.411) | 0.487*** (0.250, 0.742) | 1.086*** (0.661, 1.646) | 0.214*** (0.128, 0.470) |
| 2018 | 0.174 (−0.321, 0.656) | 0.117 (−0.097, 0.351) | 0.047 (−0.247, 0.324) | 0.560* (−0.051, 1.591) | 0.056 (−0.051, 0.155) |
| 2019 | 0.315*** (0.119, 0.834) | 0.203* (−0.018, 0.354) | 0.206** (0.003, 0.372) | 1.162*** (0.843, 1.952) | 0.177** (0.016, 0.322) |
| 2020 | 0.511** (0.057, 0.280) | 0.221 (−0.087, 0.399) | 0.261* (−0.001, 0.425) | 1.464*** (1.017, 2.213) | 0.285*** (0.092, 0.416) |
| 2021 | 0.803*** (0.442, 1.280) | 0.322*** (0.067, 0.485) | 0.418*** (0.165, 0.632) | 1.905*** (1.462, 2.773) | 0.461*** (0.300, 0.680) |
| Cons | −1.698 (−4.623, 1.825) | 0.408 (−0.264, 1.646) | −0.915 (−1.624, 0.878) | −6.073*** (−10.675, −2.177) | −0.885 (−1.660, 0.545) |
| 460 | 460 | 460 | 460 | 460 | |
| 75th quantile | |||||
|---|---|---|---|---|---|
| Indicator quantity | Indicator dimensions | Indicator topics | Target connection | Share target connection | |
| Log employed | 0.125 (−0.163, 0.397) | −0.015 (−0.097, 0.071) | −0.025 (−0.152, 0.131) | 0.107 (−0.271, 0.516) | 0.002 (−0.067, 0.172) |
| Log net turnover | 0.273* (−0.048, 0.575) | 0.113** (0.013, 0.179) | 0.257*** (0.079, 0.354) | 0.447* (−0.006, 0.911) | 0.073 (−0.100, 0.153) |
| Beverage industry | 0.130 (−0.562, 0.799) | −0.117 (−0.454, 0.093) | −0.031 (−0.358, 0.209) | 0.556 (−0.141, 1.187) | 0.055 (−0.100, 0.247) |
| Wholesale | −0.271** (−0.701, −0.018) | −0.113 (−0.254, −0.040) | −0.218*** (−0.385, −0.069) | −0.390** (−1.001, −0.121) | −0.154 (−0.360, 0.123) |
| Retail | −0.253 (−0.751, 0.267) | 0.087 (−0.047, 0.195) | −0.113 (−0.300, 0.112) | −0.279 (−0.707, 0.359) | −0.107 (−0.255, 0.168) |
| Nordics | −0.272* (−0.785, 0.055) | −0.118 −0.335, 0.074) | −0.173** (−0.306, −0.031) | −0.070 (−0.714, 1.108) | 0.051 (−0.119, 0.327) |
| European | 0.452* (−0.005, 0.582) | 0.156** (0.012, 0.295) | 0.262*** (0.062, 0.452) | 0.734*** (0.476, 1.180) | 0.143*** (0.062, 0.268) |
| Global | 0.833** (0.163, 1.208) | 0.287*** (0.124, 0.411) | 0.487*** (0.250, 0.742) | 1.086*** (0.661, 1.646) | 0.214*** (0.128, 0.470) |
| 2018 | 0.174 (−0.321, 0.656) | 0.117 (−0.097, 0.351) | 0.047 (−0.247, 0.324) | 0.560* (−0.051, 1.591) | 0.056 (−0.051, 0.155) |
| 2019 | 0.315*** (0.119, 0.834) | 0.203* (−0.018, 0.354) | 0.206** (0.003, 0.372) | 1.162*** (0.843, 1.952) | 0.177** (0.016, 0.322) |
| 2020 | 0.511** (0.057, 0.280) | 0.221 (−0.087, 0.399) | 0.261* (−0.001, 0.425) | 1.464*** (1.017, 2.213) | 0.285*** (0.092, 0.416) |
| 2021 | 0.803*** (0.442, 1.280) | 0.322*** (0.067, 0.485) | 0.418*** (0.165, 0.632) | 1.905*** (1.462, 2.773) | 0.461*** (0.300, 0.680) |
| Cons | −1.698 (−4.623, 1.825) | 0.408 (−0.264, 1.646) | −0.915 (−1.624, 0.878) | −6.073*** (−10.675, −2.177) | −0.885 (−1.660, 0.545) |
| 460 | 460 | 460 | 460 | 460 | |
Note(s): Mean values of the bootstrapped coefficients are reported, upper and lower bound of 95% confidence interval in parenthesis. ***p < 0.01, **p < 0.05, *p < 0.1
Variables are log-transformed to de-emphasize outliers (Metcalf and Casey, 2016). For the censored outcome-variables, the inverse hyperbolic sine (asinh) is used, which is an approximation frequently interpreted as a logarithmic transformation (Bellemare and Wichman, 2020)