VIF values
| Variable | Model 1: OLS | Model 2: FE |
|---|---|---|
| CSR | 1.66 | 4.46 |
| CONS | 1.26 | 3.64 |
| Year | 1.25 | 1.78 |
| Directors | 1.28 | – |
| Dummies (range)* | 1.16–3.27 | 1.75–3.91 |
| Mean VIF | 2.02 | 2.66 |
| Variable | Model 1: | Model 2: |
|---|---|---|
| 1.66 | 4.46 | |
| 1.26 | 3.64 | |
| Year | 1.25 | 1.78 |
| Directors | 1.28 | – |
| Dummies (range)* | 1.16–3.27 | 1.75–3.91 |
| Mean | 2.02 | 2.66 |
The table reports variance inflation factors (VIF) for the two main model specifications. Model 1 [equations (3)] includes industry dummy variables, while Model 2 [equations (4)] includes organization fixed effects (organization dummies).
*For both models, the range of VIF values for the dummy variables is presented instead of individual values.
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