Table 3

Sensitivity analysis


LogitDISTRESS = α + β1GENDER_COM+ β2GENDER_DIR+ β3GENDER_AUDIT + ε
Industry typeIIIIIIIV
CoefOddsCoefOddsCoefOddsCoefOdds
GENDER_COM−2.6930.067−1.1350.321−3.0700.046−1.3150.268
−2.16**−1.88*−2.75*** −2.20** 
GENDER_DIR−1.9900.1360.1771.1940.8152.261−0.4090.662
−1.520.240.84 −0.72 
GENDER_AUDIT0.4921.050−0.9780.275−0.5830.5580.3411.407
−0.14−0.84−0.53 0.48 
Constant1.2973.660−0.0450.9550.6181.856−0.2250.798
2.79***−0.222.41**1.53
Log likelihood−22.914−18.959−81.778−79.047−58.771−49.982−152.560−148.86
LR χ27.91**5.4512.15*** 7.39* 
Pseudo R20.1720.030.100.10
Number of Obs3611987 225 

Note(s):

Industry Type I = Primary Sector

Industry Type II = Secondary Sector

Industry Type III = Tertiary Sector (Financial Services)

Industry Type IV = Tertiary Sector (Non-Financial Services)

***0.01, ***0.05, *0.10

Source(s): Authors own work

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