Table 4 One-way ANOVA on women... | Emerald Publishing

Table 4

One-way ANOVA on women representation and firm performance across sectors

Total sample
	Financial	Public utilities	Manufacturing	Services	Other	F-test	Levene test	Welch test
2010
WoBs	0.03 (0.054)	0.04 (0.097)	0.06 (0.083)	0.07 (0.098)	0.12 (0.111)	2.311	0.085	0.105
Roa	0.004 (0.110)	0.02 (0.040)	0.03 (0.041)	0.02 (0.029)	0.04 (0.036)	1.110	0.000	0.340
Roe	0.05 (0.046)	0.04 (0.164)	0.11 (0.191)	0.07 (0.114)	0.09 (0.117)	2.772	0.005	0.000
N	23	19	28	35	11	TOT. 116
2017
WoBs	0.26 (0.161)	0.26 (0.151)	0.18 (0.145)	0.23 (0.162)	0.19 (0.147)	1.413	0.850	0.239
Roa	0.003 (0.014)	0.037 (0.032)	0.02 (0.043)	0.02 (0.036)	0.05 (0.037)	4.211	0.025	0.000
Roe	0.01 (0.169)	0.14 (0.130)	0.06 (0.140)	0.10 (0.165)	0.10 (0.074)	2.467	0.672	0.070
N	23	27	28	27	11	TOT. 116
Subsample of NLNP companies
2010
WoBs	0.03 (0.057)	0.05 (0. 093)	0.04 (0.064)	0.10 (0.126)	0.15 (0.111)	2.765	0.013	0.054
Roa	0.002 (0.059)	0.031 (0.044)	0.014 (0.035)	0.025 (0.024)	0.040 (0.042)	1.923	0.000	0.003
Roe	0.06 (0.059)	0.10 (0.168)	0.01 (0.270)	0.08 (0.098)	0.08 (0.132)	0.483	0.040	0.817
N	11	6	19	15	8	TOT. 59
2017
WoBs	0.155 (0.148)	0.108 (0.123)	0.112 (0.089)	0.163 (0.166)	0.142 (0.133)	0.428	0.313	0.798
Roa	0.001 (0.009)	0.033 (0.043)	0.040 (0.025)	0.018 (0.045)	0.050 (0.041)	2.331	0.062	0.002
Roe	0.017 (0.195)	0.095 (0.142)	0.183 (0.197)	0.102 (0.211)	0.092 (0.079)	0.890	0.580	0.644
N	11	6	18	16	8	TOT. 59

Total sample
	Financial	Public utilities	Manufacturing	Services	Other	F-test	Levene test	Welch test
2010
WoBs	0.03 (0.054)	0.04 (0.097)	0.06 (0.083)	0.07 (0.098)	0.12 (0.111)	2.311	0.085	0.105
Roa	0.004 (0.110)	0.02 (0.040)	0.03 (0.041)	0.02 (0.029)	0.04 (0.036)	1.110	0.000	0.340
Roe	0.05 (0.046)	0.04 (0.164)	0.11 (0.191)	0.07 (0.114)	0.09 (0.117)	2.772	0.005	0.000
N	23	19	28	35	11	TOT. 116
2017
WoBs	0.26 (0.161)	0.26 (0.151)	0.18 (0.145)	0.23 (0.162)	0.19 (0.147)	1.413	0.850	0.239
Roa	0.003 (0.014)	0.037 (0.032)	0.02 (0.043)	0.02 (0.036)	0.05 (0.037)	4.211	0.025	0.000
Roe	0.01 (0.169)	0.14 (0.130)	0.06 (0.140)	0.10 (0.165)	0.10 (0.074)	2.467	0.672	0.070
N	23	27	28	27	11	TOT. 116
Subsample of NLNP companies
2010
WoBs	0.03 (0.057)	0.05 (0. 093)	0.04 (0.064)	0.10 (0.126)	0.15 (0.111)	2.765	0.013	0.054
Roa	0.002 (0.059)	0.031 (0.044)	0.014 (0.035)	0.025 (0.024)	0.040 (0.042)	1.923	0.000	0.003
Roe	0.06 (0.059)	0.10 (0.168)	0.01 (0.270)	0.08 (0.098)	0.08 (0.132)	0.483	0.040	0.817
N	11	6	19	15	8	TOT. 59
2017
WoBs	0.155 (0.148)	0.108 (0.123)	0.112 (0.089)	0.163 (0.166)	0.142 (0.133)	0.428	0.313	0.798
Roa	0.001 (0.009)	0.033 (0.043)	0.040 (0.025)	0.018 (0.045)	0.050 (0.041)	2.331	0.062	0.002
Roe	0.017 (0.195)	0.095 (0.142)	0.183 (0.197)	0.102 (0.211)	0.092 (0.079)	0.890	0.580	0.644
N	11	6	18	16	8	TOT. 59

Notes:

The Welch test is the robust test of equality of means. Levene test is the test of homogeneity of variance. Standard deviations are in parenthesis

Source: Authors’ own creation