Fixed-effects regression with interaction between CSR and conservative logics
| Total WoB | Exec. | Nonexec. | |
|---|---|---|---|
| Variable | (1) | (2) | (3) |
| CSR | 0.11*** (0.03) | 0.05** (0.08) | 0.05* (0.03) |
| CONS | −0.02 (0.03) | 0.01 (0.02) | −0.03 (0.03) |
| CSR*CONS | 0.04 (0.04) | 0.02 (0.02) | 0.02 (0.03) |
| Year | 0.15*** (0.01) | 0.02*** (0.01) | 0.13*** (0.01) |
| Observations | 739 | 739 | 739 |
| Controls | No | No | No |
| Firm-fixed effects | Yes | Yes | Yes |
| R-squared | n/a | n/a | n/a |
| Number of org. | 71 | 71 | 71 |
| Total WoB | Exec. | Nonexec. | |
|---|---|---|---|
| Variable | (1) | (2) | (3) |
| 0.11 | 0.05 | 0.05 | |
| −0.02 (0.03) | 0.01 (0.02) | −0.03 (0.03) | |
| CSR*CONS | 0.04 (0.04) | 0.02 (0.02) | 0.02 (0.03) |
| Year | 0.15 | 0.02 | 0.13 |
| Observations | 739 | 739 | 739 |
| Controls | No | No | No |
| Firm-fixed effects | Yes | Yes | Yes |
| n/a | n/a | n/a | |
| Number of org. | 71 | 71 | 71 |
This table presents fixed-effects estimates from equation (2) with an additional interaction term between CSR and conservative logics. Driscoll-Kraay robust standard errors (1998) are used to correct for potential serial correlation and cross-sectional dependence. R-squared statistics are not reported under this estimation procedure. Standard errors in parentheses.***p < 0.01, **p < 0.05 and *p < 0.01
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