Table 5 Regression results Independent... | Emerald Publishing

Table 5

Regression results

Independent variables	ENVD		SOCD		GOVD		ESGD
Independent variables	Coef.	Sig.	Coef.	Sig.	Coef.	Sig.	Coef.	Sig.
FOROWN	2.622	0.047*	1.661	0.026*	1.583	0.041*	1.797	0.012*
STAOWN	1.949	0.018*	1.466	0.039*	1.329	0.007*	1.793	0.042*
MANOWN	–2.506	0.509	–1.791	0.731	−2.391	0.722	−2.289	0.594
BLKOWN	–2.163	0.019*	−2.155	0.045*	–1.863	0.021*	−2.943	0.034*
FAOWN	−1.637	0.364	1.447	0.758	2.171	0.629	1.828	0.565
COSZE	4.277	0.011*	3.912	0.037*	3.193	0.003**	3.274	0.013*
COAGE	0.985	0.174	0.792	0.326	0.843	0.656	0.738	0.498
Year dummies	Include		Include		Include		Include
Industry dummies	Include		Include		Include		Include
Constant	0.273	0.000**	0.259	0.000**	0.266	0.000**	0.245	0.29
Adj. R square (R²)	0.387**		0.319**		0.342**		0.401**
F-statistics	16.76		6.87		5.83		9.146
Sig. (F-statistics)	0.000		0.000		0.000		0.000
No. of observations	408		408		408		408

Independent variables	ENVD		SOCD		GOVD		ESGD
Independent variables	Coef.	Sig.	Coef.	Sig.	Coef.	Sig.	Coef.	Sig.
FOROWN	2.622	0.047*	1.661	0.026*	1.583	0.041*	1.797	0.012*
STAOWN	1.949	0.018*	1.466	0.039*	1.329	0.007*	1.793	0.042*
MANOWN	–2.506	0.509	–1.791	0.731	−2.391	0.722	−2.289	0.594
BLKOWN	–2.163	0.019*	−2.155	0.045*	–1.863	0.021*	−2.943	0.034*
FAOWN	−1.637	0.364	1.447	0.758	2.171	0.629	1.828	0.565
COSZE	4.277	0.011*	3.912	0.037*	3.193	0.003**	3.274	0.013*
COAGE	0.985	0.174	0.792	0.326	0.843	0.656	0.738	0.498
Year dummies	Include		Include		Include		Include
Industry dummies	Include		Include		Include		Include
Constant	0.273	0.000**	0.259	0.000**	0.266	0.000**	0.245	0.29
Adj. R square (R²)	0.387**		0.319**		0.342**		0.401**
F-statistics	16.76		6.87		5.83		9.146
Sig. (F-statistics)	0.000		0.000		0.000		0.000
No. of observations	408		408		408		408

Note(s): **Significant at the 1% level; *Significant at the 5% level