Table 8 Analytical models Model Equation... | Emerald Publishing

Table 8

Analytical models

Model	Equation settings used with “top” and “bottom” panels data	Hypotheses
(1)	$\begin{array}{l} R O A_{t} = α_{0} + α_{1} {(R O A)}_{i, t - n} + α_{2} {(E N V_S c o r e)}_{i, t - n} + α_{3} {(S O C_S c o r e)}_{i, t - n} + α_{4} {(C G V_S c o r e)}_{i, t - n} + \\ α_{5} {(O v e r h e a d_R a t i o)}_{i, t - n} + α_{6} {(C a h s F l o w S a l e s)}_{i, t - n} + α_{7} {(Q u i c k_R a t i o)}_{i, t - n} + \\ α_{8} {(E N V_S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + α_{9} {(E N V_S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + \\ α_{10} {(E N V_S c o r e * Q u i c k_R a t i o)}_{i, t - n} + α_{11} {(S O C_S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + \\ α_{12} {(S O C_S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + α_{13} {(S O C_S c o r e * Q u i c k_R a t i o)}_{i, t - n} + \\ α_{14} {(C G V_S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + α_{15} {(C G V_S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + \\ α_{16} {(C G V_S c o r e * Q u i c k_R a t i o)}_{i, t - n} + + α_{17} \ln {(T A)}_{i, t} + α_{18} \sum_{k = 1}^{9} I n d u s t r y_{i, t} + α_{19} \sum_{j = 1}^{9} T i m e_{i} + ε_{i, t - n} \end{array}$	H1a/b, H2a/b
(2)	$\begin{array}{l} R O A_{t} = β_{0} + β_{1} {(R O A)}_{i, t - n} + β_{2} {(P r o d u c t R e s p ._S c o r e)}_{i, t - n} + β_{3} {(O v e r h e a d_R a t i o)}_{i, t - n} + \\ β_{4} {(C a h s F l o w S a l e s)}_{i, t - n} + β_{5} {(Q u i c k_R a t i o)}_{i, t - n} + β_{6} {(P r o d u c t R e s p ._S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + \\ β_{7} {(P r o d u c t R e s p ._S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + β_{8} {(P r o d u c t R e s p ._S c o r e * Q u i c k_R a t i o)}_{i, t - n} + \\ β_{9} \ln {(T A)}_{i, t} + β_{10} \sum_{k = 1}^{9} I n d u s t r y_{i, t} + β_{11} \sum_{j = 1}^{9} T i m e_{i} + ε_{i, t - n} \end{array}$	H2a/b, H3a/b
(3)	$\begin{array}{l} R O A_{t} = γ_{0} + γ_{1} {(R O A)}_{i, t - n} + γ_{2} {(C S R S t r a t e g y_S c o r e)}_{i, t - n} + γ_{3} {(O v e r h e a d_R a t i o)}_{i, t - n} + \\ γ_{4} {(C a h s F l o w S a l e s)}_{i, t - n} + γ_{5} {(Q u i c k_R a t i o)}_{i, t - n} + γ_{6} {(C S R S t r a t e g y_S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + \\ γ_{7} {(C S R S t r a t e g y_S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + γ_{8} {(C S R S t r a t e g y_S c o r e * Q u i c k_R a t i o)}_{i, t - n} + \\ γ_{9} \ln {(T A)}_{i, t} + γ_{10} \sum_{k = 1}^{9} I n d u s t r y_{i, t} + γ_{11} \sum_{j = 1}^{9} T i m e_{i} + ε_{i, t - n} \end{array}$	H2a/b, H4a/b
(4)	$\begin{array}{l} R O A_{t} = δ_{0} + δ_{1} {(R O A)}_{i, t - n} + δ_{2} {(E n v I n n o v a t i o n_S c o r e)}_{i, t - n} + δ_{3} {(O v e r h e a d_R a t i o)}_{i, t - n} + \\ δ_{4} {(C a h s F l o w S a l e s)}_{i, t - n} + δ_{5} {(Q u i c k_R a t i o)}_{i, t - n} + δ_{6} {(E n v I n n o v a t i o n_S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + \\ δ_{7} {(E n v I n n o v a t i o n_S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + δ_{8} {(E n v I n n o v a t i o n_S c o r e * Q u i c k_R a t i o)}_{i, t - n} + \\ δ_{9} \ln {(T A)}_{i, t} + δ_{10} \sum_{k = 1}^{9} I n d u s t r y_{i, t} + δ_{11} \sum_{j = 1}^{9} T i m e_{i} + ε_{i, t - n} \end{array}$	H2a/b, H3a/b, H5a/b
(5)	$\begin{array}{l} R O A_{t} = η_{0} + η_{1} {(R O A)}_{i, t - n} + η_{2} {(M a n a g e m e n t_S c o r e)}_{i, t - n} + η_{3} {(O v e r h e a d_R a t i o)}_{i, t - n} + \\ η_{4} {(C a h s F l o w S a l e s)}_{i, t - n} + η_{5} {(Q u i c k_R a t i o)}_{i, t - n} + η_{6} {(M a n a g e m e n t_S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + \\ η_{7} {(M a n a g e m e n t_S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + η_{8} {(M a n a g e m e n t_S c o r e * Q u i c k_R a t i o)}_{i, t - n} + \\ η_{9} \ln {(T A)}_{i, t} + η_{10} \sum_{k = 1}^{9} I n d u s t r y_{i, t} + η_{11} \sum_{j = 1}^{9} T i m e_{i} + ε_{i, t - n} \end{array}$	H2a/b, H5a/b
(6)	$\begin{array}{l} R O A_{t} = θ_{0} + θ_{1} {(R O A)}_{i, t - n} + θ_{2} {(R e s o u r c e U s e_S c o r e)}_{i, t - n} + θ_{3} {(O v e r h e a d_R a t i o)}_{i, t - n} + \\ θ_{4} {(C a h s F l o w S a l e s)}_{i, t - n} + θ_{5} {(Q u i c k_R a t i o)}_{i, t - n} + θ_{6} {(R e s o u r c e U s e_S c o r e * O v e r h e a d_R a t i o)}_{i, t - n} + \\ θ_{7} {(R e s o u r c e U s e_S c o r e * C a h s F l o w S a l e s)}_{i, t - n} + θ_{8} {(R e s o u r c e U s e_S c o r e * Q u i c k_R a t i o)}_{i, t - n} + \\ θ_{9} \ln {(T A)}_{i, t} + θ_{10} \sum_{k = 1}^{9} I n d u s t r y_{i, t} + θ_{11} \sum_{j = 1}^{9} T i m e_{i} + ε_{i, t - n} \end{array}$	H2a/b, H5a/b