Heckman selection model
| ROA | FI_PROF | OP_PROF | OP_REV | OP_EXP | |
|---|---|---|---|---|---|
| WOM_BOARD | 0.0343*** | −0.0173** | 0.4903*** | 0.4300*** | −0.1899** |
| LAW (selection equation) | 0.4229*** | 0.3980*** | 0.4212*** | 0.4212*** | 0.4212*** |
| Rho | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| LR test p-value | 1.000 | 1.000 | 1.000 | 1.000 | 1.000 |
| ROA | FI_PROF | OP_PROF | OP_REV | OP_EXP | |
|---|---|---|---|---|---|
| WOM_BOARD | 0.0343*** | −0.0173** | 0.4903*** | 0.4300*** | −0.1899** |
| LAW (selection equation) | 0.4229*** | 0.3980*** | 0.4212*** | 0.4212*** | 0.4212*** |
| Rho | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| LR test | 1.000 | 1.000 | 1.000 | 1.000 | 1.000 |
Note(s): Control variables, year effects, country effects and industry effects are included but not reported. ***, **, and * denote significance at the 1%, 5%, and 10% levels, respectively
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.