Fixed-effects regression model for the dependent variable return-on-capital-employed
| ROCE | ||||
|---|---|---|---|---|
| Variable | Coefficient | Standard error | t-ratio | p-value |
| ESG rating | −0.0124 | 0.00826 | −1.50 | 0.1350 |
| Debt-to-equity ratio (DOT) | −0.0102 | 0.00489 | −2.09 | 0.0370 |
| Company size (Size) | −0.2413 | 0.04591 | −5.26 | 0.0000 |
| Constant | 2.7439 | 0.47609 | 5.76 | 0.0000 |
| R2 | 0.0913 | |||
| F | 14.14 | |||
| Prob > F | 0.0000 | |||
| sigma_u | 0.1588 | |||
| sigma_e | 0.0905 | |||
| rho | 0.7551 | |||
| ROCE | ||||
|---|---|---|---|---|
| Variable | Coefficient | Standard error | ||
| ESG rating | −0.0124 | 0.00826 | −1.50 | 0.1350 |
| Debt-to-equity ratio (DOT) | −0.0102 | 0.00489 | −2.09 | 0.0370 |
| Company size (Size) | −0.2413 | 0.04591 | −5.26 | 0.0000 |
| Constant | 2.7439 | 0.47609 | 5.76 | 0.0000 |
| 0.0913 | ||||
| F | 14.14 | |||
| Prob > F | 0.0000 | |||
| sigma_u | 0.1588 | |||
| sigma_e | 0.0905 | |||
| rho | 0.7551 | |||