Table 5 Regression results using static... | Emerald Publishing

Table 5

Regression results using static panel data analysis

Variable	Model 1 (ETR)		Model 2 (CFETR)		Model 3 (BTD)
Variable	Coeff	Std. err	Coeff	Std. err	Coeff	Std. err
CEO_FAM	−1.3034**	0.0521	−2.2328**	0.1088	1.1046***	0.0066
BIND	0.0233	0.1393	0.3210	0.2913	−0.0406	0.0060
CEO_FAM × BIND	0.1952***	0.1790	0.3747***	0.3742	−0.1277**	0.0206
BSIZE	2.0191**	0.0287	1.0352*	0.0599	−3.0116*	0.0051
BGD	−0.0286	0.0563	0.0850	0.1177	0.0153	0.0101
BDIL	1.0057	0.0161	0.0208	0.0336	−4.0103	0.0029
ROA	−5.3771**	0.1296	−1.2209**	0.2709	3.3188	0.0242
LEV	−2.0457*	0.0393	−1.0250*	0.0821	1.0126**	0.0071
FSIZE	0.0067	0.0054	0.0084	0.0112	0.0028	0.0010
FAGE	0.0533	0.0156	0.0177	0.0326	−0.0155	0.0028
CONSTANT	−0.1255	0.1422	0.0109	0.2972	−0.0353	0.0233
Year dummy	Yes		Yes		Yes
Wald test (p-value)	33.45***		38.48***		478.79***
Observations	445		445		445

Variable	Model 1 (ETR)		Model 2 (CFETR)		Model 3 (BTD)
Variable	Coeff	Std. err	Coeff	Std. err	Coeff	Std. err
CEO_FAM	−1.3034**	0.0521	−2.2328**	0.1088	1.1046***	0.0066
BIND	0.0233	0.1393	0.3210	0.2913	−0.0406	0.0060
CEO_FAM × BIND	0.1952***	0.1790	0.3747***	0.3742	−0.1277**	0.0206
BSIZE	2.0191**	0.0287	1.0352*	0.0599	−3.0116*	0.0051
BGD	−0.0286	0.0563	0.0850	0.1177	0.0153	0.0101
BDIL	1.0057	0.0161	0.0208	0.0336	−4.0103	0.0029
ROA	−5.3771**	0.1296	−1.2209**	0.2709	3.3188	0.0242
LEV	−2.0457*	0.0393	−1.0250*	0.0821	1.0126**	0.0071
FSIZE	0.0067	0.0054	0.0084	0.0112	0.0028	0.0010
FAGE	0.0533	0.0156	0.0177	0.0326	−0.0155	0.0028
CONSTANT	−0.1255	0.1422	0.0109	0.2972	−0.0353	0.0233
Year dummy	Yes		Yes		Yes
Wald test (p-value)	33.45***		38.48***		478.79***
Observations	445		445		445

Note(s): *p < 0.10; **p < 0.05; ***p < 0.01

Source(s): Authors’ own creation