Table 6 Models – robustness by COMP...

Table 6

Models – robustness by COMP subgroup (COMP-8)

	Economic performance				Social performance
	Economic return (ROA)		Net income margin		Death rate
	(1)	(2)	(3)	(4)	(5)	(6)
COMP-8	−0.0282***	0.0088***	−0.0180***	0.0552***	0.0221***	0.0224***
COMP-8	(0.0016)	(0.0034)	(0.0012)	(0.0024)	(0.0060)	(0.0086)
COMP*PUBF		−0.0964***		−0.1910***		−0.0010
COMP*PUBF		(0.0077)		(0.0054)		(0.0187)
PUBF	0.0450***	0.0513***	0.0299***	0.0424***	0.0248***	0.0249***
PUBF	(0.0021)	(0.0022)	(0.0015)	(0.0015)	(0.005)	(0.0052)
Covid	−0.0160***	−0.0166***	−0.0130***	−0.0142***	–	–
Covid	(0.0014)	(0.0014)	(0.001)	(0.001)	–	–
Financial leverage	−0.0027***	−0.0026***	−0.0020***	−0.0019***	0	0
Financial leverage	(0.0001)	(0.0001)	(0.0001)	(0.0001)	(0)	(0)
Solvency level	0.0506***	0.0487***	0.0192***	0.0155***	0.0273***	0.0273***
Solvency level	(0.0024)	(0.0024)	(0.0017)	(0.0017)	(0.0059)	(0.0060)
Penalties	0.1149***	0.1178***	0.0769***	0.0826***	0.1130***	0.1129***
Penalties	(0.0044)	(0.0044)	(0.0032)	(0.0031)	(0.0155)	(0.0156)
Location	0.0131***	0.0117***	0.0229***	0.0201***	0.0207***	0.0207***
Location	(0.0014)	(0.0014)	(0.0010)	(0.0010)	(0.0041)	(0.0041)
F-Prob	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
R-squared	0.3930	0.3982	0.3606	0.4015	0.3242	0.3242

	Economic performance				Social performance
	Economic return (ROA)		Net income margin		Death rate
	(1)	(2)	(3)	(4)	(5)	(6)
COMP-8	−0.0282***	0.0088***	−0.0180***	0.0552***	0.0221***	0.0224***
COMP-8	(0.0016)	(0.0034)	(0.0012)	(0.0024)	(0.0060)	(0.0086)
COMP*PUBF		−0.0964***		−0.1910***		−0.0010
COMP*PUBF		(0.0077)		(0.0054)		(0.0187)
PUBF	0.0450***	0.0513***	0.0299***	0.0424***	0.0248***	0.0249***
PUBF	(0.0021)	(0.0022)	(0.0015)	(0.0015)	(0.005)	(0.0052)
Covid	−0.0160***	−0.0166***	−0.0130***	−0.0142***	–	–
Covid	(0.0014)	(0.0014)	(0.001)	(0.001)	–	–
Financial leverage	−0.0027***	−0.0026***	−0.0020***	−0.0019***	0	0
Financial leverage	(0.0001)	(0.0001)	(0.0001)	(0.0001)	(0)	(0)
Solvency level	0.0506***	0.0487***	0.0192***	0.0155***	0.0273***	0.0273***
Solvency level	(0.0024)	(0.0024)	(0.0017)	(0.0017)	(0.0059)	(0.0060)
Penalties	0.1149***	0.1178***	0.0769***	0.0826***	0.1130***	0.1129***
Penalties	(0.0044)	(0.0044)	(0.0032)	(0.0031)	(0.0155)	(0.0156)
Location	0.0131***	0.0117***	0.0229***	0.0201***	0.0207***	0.0207***
Location	(0.0014)	(0.0014)	(0.0010)	(0.0010)	(0.0041)	(0.0041)
F-Prob	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
R-squared	0.3930	0.3982	0.3606	0.4015	0.3242	0.3242

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