Profit vs loss companies
| Variables | Loss | Profit | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| EMISSION_SC | EMISSION_SC | EMISSION_SC | EMISSION_SC | |
| AUDIT_COM | 0.0188*** | −0.00573 | 0.0291*** | −0.0303*** |
| (0.00451) | (0.00420) | (0.00426) | (0.00413) | |
| CSR_COM | 0.139*** | 0.147*** | ||
| (0.0214) | (0.00895) | |||
| AUDIT_COM#CSR_COM | 0.0369* | 0.0464*** | ||
| (0.0215) | (0.00927) | |||
| ROA | −0.0196** | −0.00752 | 0.0436* | 0.0209 |
| (0.00878) | (0.00801) | (0.0253) | (0.0232) | |
| FIRM_SZ | 0.0485*** | 0.0350*** | 0.322*** | 0.224*** |
| (0.00575) | (0.00526) | (0.00817) | (0.00766) | |
| LEVERAGE | 0.0686*** | 0.0489*** | −0.0424*** | −0.0245* |
| (0.00926) | (0.00845) | (0.0145) | (0.0133) | |
| logGDP | 0.0610*** | 0.0426** | 0.0997*** | 0.0692*** |
| (0.0218) | (0.0199) | (0.0148) | (0.0136) | |
| INF | 0.00315*** | 0.00210*** | 0.00247*** | 0.00166*** |
| (0.000581) | (0.000530) | (0.000227) | (0.000208) | |
| BD_SIZE | −0.00608*** | −0.00563*** | −0.00930*** | −0.00726*** |
| (0.00226) | (0.00206) | (0.00203) | (0.00186) | |
| BD_GEND | 0.00167*** | 0.00162*** | 0.00190*** | 0.00103** |
| (0.000642) | (0.000585) | (0.000468) | (0.000428) | |
| SECTOR | Included | Included | Included | Included |
| COUNTRY | Included | Included | Included | Included |
| Constant | −0.909*** | −0.611*** | −3.679*** | −2.462*** |
| (0.243) | (0.222) | (0.171) | (0.158) | |
| Observations | 9,499 | 9,499 | 23,381 | 23,381 |
| R-squared | 0.049 | 0.212 | 0.117 | 0.261 |
| F-test | 41.31*** | 172.2*** | 306.6*** | 652.3*** |
| Variables | Loss | Profit | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| EMISSION_SC | EMISSION_SC | EMISSION_SC | EMISSION_SC | |
| AUDIT_COM | 0.0188*** | −0.00573 | 0.0291*** | −0.0303*** |
| (0.00451) | (0.00420) | (0.00426) | (0.00413) | |
| CSR_COM | 0.139*** | 0.147*** | ||
| (0.0214) | (0.00895) | |||
| AUDIT_COM#CSR_COM | 0.0369* | 0.0464*** | ||
| (0.0215) | (0.00927) | |||
| ROA | −0.0196** | −0.00752 | 0.0436* | 0.0209 |
| (0.00878) | (0.00801) | (0.0253) | (0.0232) | |
| FIRM_SZ | 0.0485*** | 0.0350*** | 0.322*** | 0.224*** |
| (0.00575) | (0.00526) | (0.00817) | (0.00766) | |
| LEVERAGE | 0.0686*** | 0.0489*** | −0.0424*** | −0.0245* |
| (0.00926) | (0.00845) | (0.0145) | (0.0133) | |
| logGDP | 0.0610*** | 0.0426** | 0.0997*** | 0.0692*** |
| (0.0218) | (0.0199) | (0.0148) | (0.0136) | |
| INF | 0.00315*** | 0.00210*** | 0.00247*** | 0.00166*** |
| (0.000581) | (0.000530) | (0.000227) | (0.000208) | |
| BD_SIZE | −0.00608*** | −0.00563*** | −0.00930*** | −0.00726*** |
| (0.00226) | (0.00206) | (0.00203) | (0.00186) | |
| BD_GEND | 0.00167*** | 0.00162*** | 0.00190*** | 0.00103** |
| (0.000642) | (0.000585) | (0.000468) | (0.000428) | |
| SECTOR | Included | Included | Included | Included |
| COUNTRY | Included | Included | Included | Included |
| Constant | −0.909*** | −0.611*** | −3.679*** | −2.462*** |
| (0.243) | (0.222) | (0.171) | (0.158) | |
| Observations | 9,499 | 9,499 | 23,381 | 23,381 |
| 0.049 | 0.212 | 0.117 | 0.261 | |
| 41.31*** | 172.2*** | 306.6*** | 652.3*** | |
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