Table A1 Synthesis of the significant... | Emerald Publishing

Table A1

Synthesis of the significant results

Models	1	1B	1E	1F	1G
CFP measure	ROA	ROA	ROA	ROA	ROA
Property sector	All Real Estate Companies	Real Estate Rental, Development and Operations sector	All Real Estate Companies	All Real Estate Companies	All Real Estate Companies
Enviromental score	Positive Effect	–	–	–	–
Social score	Negative Effect	Negative Effect	Negative Effect	Negative Effect	Negative Effect
Governance score	Positive Effect	Positive Effect	–	Positive Effect	–
Control variables	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered
Period	2015–2021	2015–2021	2015–2021	2015–2021	2015–2021
Geographic region	World	World	Asia	Oceania	Europe
Statistic model	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect
Observations	1,687	630	364	196	231

Models	1	1B	1E	1F	1G
CFP measure	ROA	ROA	ROA	ROA	ROA
Property sector	All Real Estate Companies	Real Estate Rental, Development and Operations sector	All Real Estate Companies	All Real Estate Companies	All Real Estate Companies
Enviromental score	Positive Effect	–	–	–	–
Social score	Negative Effect	Negative Effect	Negative Effect	Negative Effect	Negative Effect
Governance score	Positive Effect	Positive Effect	–	Positive Effect	–
Control variables	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered
Period	2015–2021	2015–2021	2015–2021	2015–2021	2015–2021
Geographic region	World	World	Asia	Oceania	Europe
Statistic model	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect
Observations	1,687	630	364	196	231

Models	2	2A	2B	2D	2F
CFP measure	Total return	Total return	Total return	Total return	Total return
Property sector	All Real Estate Companies	Commercial REITs	Real Estate Rental, Development and Operations sector	All Real Estate Companies	All Real Estate Companies
Enviromental score	–	–	–	–	–
Social score	Negative Effect	–	–	–	–
Governance score	Negative Effect	Negative Effect	Negative Effect	Negative Effect	Positive Effect
Control variables	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered
Period	2015–2021	2015–2021	2015–2021	2015–2021	2015–2021
Geographic region	World	World	World	America	Oceania
Statistic model	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect
Observations	1,407	546	364	847	189

Models	2	2A	2B	2D	2F
CFP measure	Total return	Total return	Total return	Total return	Total return
Property sector	All Real Estate Companies	Commercial REITs	Real Estate Rental, Development and Operations sector	All Real Estate Companies	All Real Estate Companies
Enviromental score	–	–	–	–	–
Social score	Negative Effect	–	–	–	–
Governance score	Negative Effect	Negative Effect	Negative Effect	Negative Effect	Positive Effect
Control variables	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Market Cap, Beta Levered, Floating Shares	Ebitda Margin, Log Total Assets, Debt on Assets, Beta Levered
Period	2015–2021	2015–2021	2015–2021	2015–2021	2015–2021
Geographic region	World	World	World	America	Oceania
Statistic model	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect	Fixed Effect
Observations	1,407	546	364	847	189

Source(s): Authors’ own work