Post-hoc analyses: board gender diversity and IPO performance in family firms
| Panel A | |||
|---|---|---|---|
| BGD = 1 (75) mean | BGD = 0 (73) mean | Difference (mean) T-test | |
| ROA | 0.152 | 1.0499 | 0.9647 |
| M/B | 1257.03 | 3001.57 | 3.3020*** |
| Panel A | |||
|---|---|---|---|
| BGD = 1 (75) mean | BGD = 0 (73) mean | Difference (mean) | |
| 0.152 | 1.0499 | 0.9647 | |
| 1257.03 | 3001.57 | 3.3020*** | |
| Panel B | ||
|---|---|---|
| Dependent variable→ | ROA | M/B |
| Costant | 0.993 | 6.209*** |
| BGD | −2.237 | −6.819*** |
| N | 148 | 148 |
| R-squared | 0.0055 | 0.0944 |
| Adjusted R-squared | −0.0013 | 0.0882 |
| Panel B | ||
|---|---|---|
| Dependent variable→ | ROA | M/B |
| 0.993 | 6.209*** | |
| −2.237 | −6.819*** | |
| 148 | 148 | |
| 0.0055 | 0.0944 | |
| Adjusted | −0.0013 | 0.0882 |
Source(s): Table by authors
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