Table 12. Fixed-effects regression model... | Emerald Publishing

Table 12.

Fixed-effects regression model for the dependent variable Tobin's Q

Tobin’s Q
Variable	Coefficient	Standard error	t-ratio	p-value
ESG rating	0.1099	0.05917	1.86	0.0640
Debt-to-equity ratio (DOT)	0.0052	0.03500	0.15	0.8820
Company size (Size)	−0.5881	0.32874	−1.79	0.0740
Constant	8.6051	3.40894	2.52	0.0120
R²	0.0121
F	1.72
Prob > F	0.1625
sigma_u	1.8459
sigma_e	0.6478
rho	0.8903

Tobin’s Q
Variable	Coefficient	Standard error	t-ratio	p-value
ESG rating	0.1099	0.05917	1.86	0.0640
Debt-to-equity ratio (DOT)	0.0052	0.03500	0.15	0.8820
Company size (Size)	−0.5881	0.32874	−1.79	0.0740
Constant	8.6051	3.40894	2.52	0.0120
R²	0.0121
F	1.72
Prob > F	0.1625
sigma_u	1.8459
sigma_e	0.6478
rho	0.8903