Developed vs developing countries
| Variables | Developing | Developed | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| EMISSION_SC | EMISSION_SC | EMISSION_SC | EMISSION_SC | |
| AUDIT_COM | 0.0500** | −0.0192 | 0.0273*** | −0.0219*** |
| (0.0226) | (0.0247) | (0.00320) | (0.00303) | |
| CSR_COM | 0.0947*** | 0.160*** | ||
| (0.0336) | (0.00811) | |||
| AUDIT_COM#CSR_COM | 0.0626 | 0.0392*** | ||
| (0.0382) | (0.00831) | |||
| ROA | −0.0278 | −0.0493 | −0.0605*** | −0.0328*** |
| (0.157) | (0.148) | (0.00791) | (0.00717) | |
| FIRM_SZ | 0.115*** | 0.0842** | 0.148*** | 0.105*** |
| (0.0401) | (0.0381) | (0.00486) | (0.00445) | |
| LEVERAGE | 0.192* | 0.115 | 0.0260*** | 0.0181** |
| (0.100) | (0.0954) | (0.00845) | (0.00765) | |
| logGDP | 0.243** | 0.148 | 0.123*** | 0.0833*** |
| (0.101) | (0.0958) | (0.0120) | (0.0109) | |
| INF | 0.0114*** | 0.00808*** | 0.00275*** | 0.00174*** |
| (0.00196) | (0.00191) | (0.000207) | (0.000188) | |
| BD_SIZE | −0.00513 | −0.00463 | −0.00833*** | −0.00681*** |
| (0.0135) | (0.0129) | (0.00150) | (0.00136) | |
| BD_GEND | 0.00497 | 0.00224 | 0.00233*** | 0.00150*** |
| (0.00563) | (0.00533) | (0.000379) | (0.000343) | |
| Constant | −3.045*** | −1.782* | −2.355*** | −1.563*** |
| (1.031) | (0.987) | (0.136) | (0.124) | |
| Observations | 990 | 990 | 31,890 | 31,890 |
| R-squared | 0.136 | 0.234 | 0.074 | 0.241 |
| F-test | 9.285*** | 14.36*** | 265.8*** | 849.4*** |
| Variables | Developing | Developed | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| EMISSION_SC | EMISSION_SC | EMISSION_SC | EMISSION_SC | |
| AUDIT_COM | 0.0500** | −0.0192 | 0.0273*** | −0.0219*** |
| (0.0226) | (0.0247) | (0.00320) | (0.00303) | |
| CSR_COM | 0.0947*** | 0.160*** | ||
| (0.0336) | (0.00811) | |||
| AUDIT_COM#CSR_COM | 0.0626 | 0.0392*** | ||
| (0.0382) | (0.00831) | |||
| ROA | −0.0278 | −0.0493 | −0.0605*** | −0.0328*** |
| (0.157) | (0.148) | (0.00791) | (0.00717) | |
| FIRM_SZ | 0.115*** | 0.0842** | 0.148*** | 0.105*** |
| (0.0401) | (0.0381) | (0.00486) | (0.00445) | |
| LEVERAGE | 0.192* | 0.115 | 0.0260*** | 0.0181** |
| (0.100) | (0.0954) | (0.00845) | (0.00765) | |
| logGDP | 0.243** | 0.148 | 0.123*** | 0.0833*** |
| (0.101) | (0.0958) | (0.0120) | (0.0109) | |
| INF | 0.0114*** | 0.00808*** | 0.00275*** | 0.00174*** |
| (0.00196) | (0.00191) | (0.000207) | (0.000188) | |
| BD_SIZE | −0.00513 | −0.00463 | −0.00833*** | −0.00681*** |
| (0.0135) | (0.0129) | (0.00150) | (0.00136) | |
| BD_GEND | 0.00497 | 0.00224 | 0.00233*** | 0.00150*** |
| (0.00563) | (0.00533) | (0.000379) | (0.000343) | |
| Constant | −3.045*** | −1.782* | −2.355*** | −1.563*** |
| (1.031) | (0.987) | (0.136) | (0.124) | |
| Observations | 990 | 990 | 31,890 | 31,890 |
| 0.136 | 0.234 | 0.074 | 0.241 | |
| 9.285*** | 14.36*** | 265.8*** | 849.4*** | |
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