Table 9 Moderating effect of state... | Emerald Publishing

Table 9

Moderating effect of state ownership

	(1)	(2)	(3)	(4)
Variables	Donate/Ebit	Donate/Ebit	Lndonate	Lndonate
Religion_100	0.0189***		0.2195**
Religion_100	(0.007)		(0.089)
Rreligion_100State*	−0.0198*		−0.3119**
Rreligion_100State*	(0.010)		(0.151)
Religion_200		0.0063***		0.1029***
Religion_200		(0.002)		(0.034)
Religion_200State*		−0.0069**		−0.1482***
Religion_200State*		(0.003)		(0.050)
State	−0.0063	0.0002	−0.3676***	−0.2912***
State	(0.005)	(0.005)	(0.087)	(0.092)
Controls	Yes	Yes	Yes	Yes
Industry FE	Yes	Yes	Yes	Yes
Province FE	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes
Adjust.R²	0.049	0.100	0.391	0.387
Observations	4,088	4,094	4,371	4,380

	(1)	(2)	(3)	(4)
Variables	Donate/Ebit	Donate/Ebit	Lndonate	Lndonate
Religion_100	0.0189***		0.2195**
Religion_100	(0.007)		(0.089)
Rreligion_100*State	−0.0198*		−0.3119**
Rreligion_100*State	(0.010)		(0.151)
Religion_200		0.0063***		0.1029***
Religion_200		(0.002)		(0.034)
Religion_200*State		−0.0069**		−0.1482***
Religion_200*State		(0.003)		(0.050)
State	−0.0063	0.0002	−0.3676***	−0.2912***
State	(0.005)	(0.005)	(0.087)	(0.092)
Controls	Yes	Yes	Yes	Yes
Industry FE	Yes	Yes	Yes	Yes
Province FE	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes
Adjust.R²	0.049	0.100	0.391	0.387
Observations	4,088	4,094	4,371	4,380

Note(s): Robust standard errors are clustered at the firm-level and provided in parentheses. ***, **, * denote significance at 1%, 5%, and 10% levels respectively