Table 9

Main results of OLS regressions using model-1

ROAt (DV) vs IVs and CVsModel-1
“Top”“Bottom”
ROAt−10.620*** (−0.0364)−0.581*** (−0.0638)
ENV_Scoret−10.360* (−0.212)−4.107*** (−0.605)
SOC_Scoret−10.657** (−0.329)5.684*** (−0.735)
CGV_Scoret−10.464** (−0.199)−0.878*** (−0.254)
Overhead_Ratiot−177.93*** (−23.05)0.48 (−9.85)
CahsFlowSales_Ratiot−10.900*** (−0.305)0.477*** (−0.0995)
Quick_Ratiot−12.106 (−2.441)−1.091* (−0.569)
ENV_Score*Overhead_Ratiot−1−0.325 (−0.207)4.431*** (−0.607)
ENV_Score*CahsFlowSales_Ratiot−1−0.00345 (−0.00279)0.0104 (−0.00678)
ENV_Score*Quick_Ratiot−1−0.0487* (−0.0261)−0.0328 (−0.0382)
SOC_Score*Overhead_Ratiot-1−0.625* (−0.321)−5.957*** (−0.733)
SOC_Score*CahsFlowSales_Ratiot−1−0.00577 (−0.00398)−0.0314*** (−0.0081)
SOC_Score*Quick_Ratiot−10.00708 (−0.0251)0.0523 (−0.0478)
CGV_Score*Overhead_Ratiot−1−0.453** (−0.193)0.841*** (−0.253)
CGV_Score*CahsFlowSales_Ratiot−1−0.00498** (−0.00248)0.0125*** (−0.00351)
CGV_Score*Quick_Ratiot−10.00579 (−0.0179)−0.0469 (−0.0291)
lnTAt−0.615*** (−0.142)−3.766*** (−0.49)
Constant−70.91*** (−23.72)67.28*** (−15.94)
Observations783977
R-squared0.5410.285

Note(s): ***p < 0.01, **p < 0.05, *p < 0.1

Standard errors in parentheses

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