Table 4 Models – regression analysis...

Table 4

Models – regression analysis

Variables	Economic performance				Social performance
	Economic return (ROA)		Net income margin		Death rate
	(1)	(2)	(3)	(4)	(5)	(6)
COMP	−0.0223***	0.0067**	−0.0134***	0.0463***	0.0148***	0.0221***
COMP	(0.0015)	(0.0029)	(0.0011)	(0.0021)	(0.0054)	(0.0078)
COMP*PUBF		−0.0712***		−0.1463***		−0.0208
COMP*PUBF		(0.0061)		(0.0043)		(0.0159)
PUBF	0.0455***	0.0534***	0.0290***	0.0451***	0.0225***	0.0246***
PUBF	(0.002)	(0.0021)	(0.0015)	(0.0015)	(0.0049)	(0.0051)
COVID	−0.0193***	−0.0196***	−0.0146***	−0.0152***	–	–
COVID	(0.0013)	(0.0013)	(0.001)	(0.0009)	–	–
Financial leverage	−0.0028***	−0.0027***	−0.0021***	−0.0020***	0.0000	0.0000
Financial leverage	(0.0001)	(0.0001)	(0.0001)	(0.0001)	(0.0000)	(0.0000)
Solvency level	0.0532***	0.0519***	0.0259***	0.0231***	0.0277***	0.0276***
Solvency level	(0.0023)	(0.0023)	(0.0016)	(0.0016)	(0.0059)	(0.0059)
Penalties	0.1097***	0.1093***	0.0663***	0.0655***	0.1135***	0.1120***
Penalties	(0.0042)	(0.0042)	(0.0031)	(0.003)	(0.0153)	(0.0154)
Location	0.0135***	0.0119***	0.021***	0.0177***	0.0223***	0.0220***
Location	(0.0014)	(0.0014)	(0.001)	(0.001)	(0.004)	(0.004)
F-Prob	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
R²	0.4090	0.4131	0.3692	0.4043	0.3227	0.3231

Variables	Economic performance				Social performance
	Economic return (ROA)		Net income margin		Death rate
	(1)	(2)	(3)	(4)	(5)	(6)
COMP	−0.0223***	0.0067**	−0.0134***	0.0463***	0.0148***	0.0221***
COMP	(0.0015)	(0.0029)	(0.0011)	(0.0021)	(0.0054)	(0.0078)
COMP*PUBF		−0.0712***		−0.1463***		−0.0208
COMP*PUBF		(0.0061)		(0.0043)		(0.0159)
PUBF	0.0455***	0.0534***	0.0290***	0.0451***	0.0225***	0.0246***
PUBF	(0.002)	(0.0021)	(0.0015)	(0.0015)	(0.0049)	(0.0051)
COVID	−0.0193***	−0.0196***	−0.0146***	−0.0152***	–	–
COVID	(0.0013)	(0.0013)	(0.001)	(0.0009)	–	–
Financial leverage	−0.0028***	−0.0027***	−0.0021***	−0.0020***	0.0000	0.0000
Financial leverage	(0.0001)	(0.0001)	(0.0001)	(0.0001)	(0.0000)	(0.0000)
Solvency level	0.0532***	0.0519***	0.0259***	0.0231***	0.0277***	0.0276***
Solvency level	(0.0023)	(0.0023)	(0.0016)	(0.0016)	(0.0059)	(0.0059)
Penalties	0.1097***	0.1093***	0.0663***	0.0655***	0.1135***	0.1120***
Penalties	(0.0042)	(0.0042)	(0.0031)	(0.003)	(0.0153)	(0.0154)
Location	0.0135***	0.0119***	0.021***	0.0177***	0.0223***	0.0220***
Location	(0.0014)	(0.0014)	(0.001)	(0.001)	(0.004)	(0.004)
F-Prob	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
R²	0.4090	0.4131	0.3692	0.4043	0.3227	0.3231

Note(s): Regressions of Social Dimension consider the ratio of deaths during the first wave of COVID-19 (data as of August 2020). For this reason, the control variable Covid has not been considered

Standard errors are in parentheses

***p < 0.01, **p < 0.05, *p < 0.10

[ViewLarge]

Sharing Unavailable