Table 7 Regression results using static... | Emerald Publishing

Table 7

Regression results using static panel data analysis (CEO political association)

Variable	Model 7 (ETR)		Model 8 (CFETR)		Model 9 (BTD)
Variable	Coeff	Std. err	Coeff	Std. err	Coeff	Std. err
CEO_POL	−2.2706**	0.0522	−3.1462**	0.1697	5.4156*	0.0127
BIND	0.0338	0.0602	0.0790	0.1273	−0.0303	0.0132
CEO_POL × BIND	−0.0659	0.2155	0.4414	0.6514	−0.0565	0.0466
BSIZE	0.6080*	0.0212	0.3100*	0.0321	−0.9079*	0.0044
BGD	−0.0261	0.0332	0.0385	0.0665	0.0126	0.0088
BDIL	0.1132	0.0097	0.1507	0.0180	−0.3121	0.0023
ROA	−0.2368**	0.0640	−1.1841**	0.1384	0.4096	0.0223
LEV	−1.1267***	0.0262	−0.4121**	0.0379	0.7167**	0.0056
FSIZE	0.0051	0.0038	−0.0119	0.0066	0.0050	0.0009
FAGE	0.0471	0.0085	0.0478	0.0180	−0.0164	0.0023
CONSTANT	−0.1197	0.0881	0.0795	0.1600	−0.0729	0.0217
Year dummy	Yes		Yes		Yes
Wald test (p-value)	63.28***		320.31***		531.08***
Observations	445		445		445

Variable	Model 7 (ETR)		Model 8 (CFETR)		Model 9 (BTD)
Variable	Coeff	Std. err	Coeff	Std. err	Coeff	Std. err
CEO_POL	−2.2706**	0.0522	−3.1462**	0.1697	5.4156*	0.0127
BIND	0.0338	0.0602	0.0790	0.1273	−0.0303	0.0132
CEO_POL × BIND	−0.0659	0.2155	0.4414	0.6514	−0.0565	0.0466
BSIZE	0.6080*	0.0212	0.3100*	0.0321	−0.9079*	0.0044
BGD	−0.0261	0.0332	0.0385	0.0665	0.0126	0.0088
BDIL	0.1132	0.0097	0.1507	0.0180	−0.3121	0.0023
ROA	−0.2368**	0.0640	−1.1841**	0.1384	0.4096	0.0223
LEV	−1.1267***	0.0262	−0.4121**	0.0379	0.7167**	0.0056
FSIZE	0.0051	0.0038	−0.0119	0.0066	0.0050	0.0009
FAGE	0.0471	0.0085	0.0478	0.0180	−0.0164	0.0023
CONSTANT	−0.1197	0.0881	0.0795	0.1600	−0.0729	0.0217
Year dummy	Yes		Yes		Yes
Wald test (p-value)	63.28***		320.31***		531.08***
Observations	445		445		445

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

Source(s): Authors’ own creation