Table 10. Endogeneity check for H1 using...

Table 10.

Endogeneity check for H1 using two-stage least squares

Variables	Coefficient	Statistical significance	t-statistics
1. Env_Sust_Comp	269.33	**	5.22
2. Soc_Sust_Comp	93.65	**	6.34
3. Size	3.89		0.22
4. Profitability	32.33	*	2.66
R² overall	0.86
Number of firms	40

Note:

* and ** indicate statistical significance at p < 0.05 and p < 0.01

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