Table 9

Results of the multiple linear regression model

VariablesCoefficientsT-studentSignificance
Constant0.346*1.850.069
ETH_SCO0.485**1.990.045
CSR_INDEX0.116***3.280.002
INVT0.455*1.760.084
TAX_PAID−0.173−0.810.420
ETH_COUNTRY0.0070.660.512
WOM_BOARD−0.136−0.590.559
LEG_SYS−0.078**−2.070.043
LEVE0.0010.180.861
POL_SECTOR−0.056*−1.700.091
Model statisticsR2 = 0.325
R2 Adjusted = 0.209
F = 2.800 (Sig. = 0.0068)

Note(s): *, ** and *** represent significance at 0.1, 0.05 and 0.01, respectively

Source(s): Authors' calculation

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