Table 5 Results of the regression... | Emerald Publishing

Table 5

Results of the regression analysis

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (A): the impact of ESG on firm value
ESG_Index	1.371224	0.4223881	3.25	0.001	0.5388816	2.203567
Leverage	0.0063921	0.0020585	3.11	0.002	0.0023357	0.0104485
ROE	0.0065303	0.0026546	2.46	0.015	0.0012993	0.0117614
LogofTotalAssets	−0.3669616	0.076741	−4.78	0.000	−0.5181846	−0.2157386
Cons	3.591173	0.7077184	5.07	0.000	2.196569	4.985777
				Adj R-square =	0.1424

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (A): the impact of ESG on firm value
ESG_Index	1.371224	0.4223881	3.25	0.001	0.5388816	2.203567
Leverage	0.0063921	0.0020585	3.11	0.002	0.0023357	0.0104485
ROE	0.0065303	0.0026546	2.46	0.015	0.0012993	0.0117614
LogofTotalAssets	−0.3669616	0.076741	−4.78	0.000	−0.5181846	−0.2157386
Cons	3.591173	0.7077184	5.07	0.000	2.196569	4.985777
				Adj R-square =	0.1424

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (B): the impact of environmental disclosure on firm value
Environmental	0.3746223	0.1536595	2.44	0.016	0.0718266	0.6774179
Leverage	0.0071336	0.0020923	3.41	0.001	0.0030106	0.0112565
ROE	0.0064318	0.0026966	2.39	0.018	0.001118	0.0117456
LogofTotalAssets	−0.322172	0.0762119	−4.23	0.000	−0.4723524	−0.1719917
Cons	3.722918	0.7120429	5.23	0.000	2.319792	5.126044
Adj R-square = 0.1254

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (B): the impact of environmental disclosure on firm value
Environmental	0.3746223	0.1536595	2.44	0.016	0.0718266	0.6774179
Leverage	0.0071336	0.0020923	3.41	0.001	0.0030106	0.0112565
ROE	0.0064318	0.0026966	2.39	0.018	0.001118	0.0117456
LogofTotalAssets	−0.322172	0.0762119	−4.23	0.000	−0.4723524	−0.1719917
Cons	3.722918	0.7120429	5.23	0.000	2.319792	5.126044
Adj R-square = 0.1254

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (C): the impact of social disclosure on firm value
Social	0.3336398	0.1610527	2.07	0.039	0.0162752	0.6510045
Leverage	0.0065317	0.0020858	3.13	0.002	0.0024215	0.010642
ROE	0.0066377	0.0027019	2.46	0.015	0.0013133	0.0119621
LogofTotalAssets	−0.3066327	0.0768314	−3.99	0.000	−0.4580338	−0.1552316
Cons	3.637788	0.7240211	5.02	0.000	2.211059	5.064518
Adj R-square = 0.1191

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (C): the impact of social disclosure on firm value
Social	0.3336398	0.1610527	2.07	0.039	0.0162752	0.6510045
Leverage	0.0065317	0.0020858	3.13	0.002	0.0024215	0.010642
ROE	0.0066377	0.0027019	2.46	0.015	0.0013133	0.0119621
LogofTotalAssets	−0.3066327	0.0768314	−3.99	0.000	−0.4580338	−0.1552316
Cons	3.637788	0.7240211	5.02	0.000	2.211059	5.064518
Adj R-square = 0.1191

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (D): the impact of governance disclosure on firm value
Governance	0.4222181	0.1701647	2.48	0.014	0.0868977	0.7575385
Leverage	0.0060989	0.0020852	2.92	0.004	0.0019899	0.0102079
ROE	0.0070431	0.0026698	2.64	0.009	0.001782	0.0123041
LogofTotalAssets	−0.2959818	0.0768793	−3.85	0.000	−0.4474773	−0.1444864
Cons	3.501906	0.7280459	4.81	0.000	2.067245	4.936567
Adj R-square = 0.1262

TobinsQ	Coef	Std. Err	t	P > t	[95% conf	Interval]
Panel (D): the impact of governance disclosure on firm value
Governance	0.4222181	0.1701647	2.48	0.014	0.0868977	0.7575385
Leverage	0.0060989	0.0020852	2.92	0.004	0.0019899	0.0102079
ROE	0.0070431	0.0026698	2.64	0.009	0.001782	0.0123041
LogofTotalAssets	−0.2959818	0.0768793	−3.85	0.000	−0.4474773	−0.1444864
Cons	3.501906	0.7280459	4.81	0.000	2.067245	4.936567
Adj R-square = 0.1262

Source(s): Table by authors