H2 regressions predicting CEO pay justification
| Variables | Linear – first stage (1) | Linear – second stage (2) | Linear – second stage (3) |
|---|---|---|---|
| Sex | −0.15 (0.30) | −0.08 (0.31) | −0.17 (0.30) |
| Race | 0.73 (0.49) | 0.73 (0.49) | 0.75 (0.49) |
| Immigrant | −0.28 (0.91) | −0.42 (0.90) | −0.24 (0.90) |
| Marital status | −0.04 (0.27) | −0.03 (0.27) | −0.04 (0.27) |
| Employment | −0.49 (0.32) | −0.46 (0.32) | −0.50 (0.32) |
| Investment | 0.16 (0.32) | 0.09 (0.32) | 0.12 (0.32) |
| Education | −0.14 (0.13) | −0.17 (0.13) | −0.11 (0.13) |
| Breadwinner | 0.10 (0.07) | 0.10 (0.07) | 0.08 (0.07) |
| Income | 0.05 (0.10) | 0.05 (0.10) | 0.06 (0.10) |
| Age | 0 (0.36) | 0 (0.01) | 0 (0.01) |
| CEO or business owner | 0.36 (0.30) | 0.33 (0.30) | 0.34 (0.30) |
| Constant | 2.99 (1.64) | 2.97 (1.63) | 2.31 (0.173) |
| CEO pay knowledge | 0.18 (0.13) | ||
| Worker pay knowledge | 0.19 (0.16) | ||
| R2 | 0.38 | 0.41 | 0.37 |
| n | 238 | 238 | 238 |
| Variables | Linear – first stage (1) | Linear – second stage (2) | Linear – second stage (3) |
|---|---|---|---|
| Sex | −0.15 (0.30) | −0.08 (0.31) | −0.17 (0.30) |
| Race | 0.73 (0.49) | 0.73 (0.49) | 0.75 (0.49) |
| Immigrant | −0.28 (0.91) | −0.42 (0.90) | −0.24 (0.90) |
| Marital status | −0.04 (0.27) | −0.03 (0.27) | −0.04 (0.27) |
| Employment | −0.49 (0.32) | −0.46 (0.32) | −0.50 (0.32) |
| Investment | 0.16 (0.32) | 0.09 (0.32) | 0.12 (0.32) |
| Education | −0.14 (0.13) | −0.17 (0.13) | −0.11 (0.13) |
| Breadwinner | 0.10 (0.07) | 0.10 (0.07) | 0.08 (0.07) |
| Income | 0.05 (0.10) | 0.05 (0.10) | 0.06 (0.10) |
| Age | 0 (0.36) | 0 (0.01) | 0 (0.01) |
| CEO or business owner | 0.36 (0.30) | 0.33 (0.30) | 0.34 (0.30) |
| Constant | 2.99 (1.64) | 2.97 (1.63) | 2.31 (0.173) |
| CEO pay knowledge | 0.18 (0.13) | ||
| Worker pay knowledge | 0.19 (0.16) | ||
| 0.38 | 0.41 | 0.37 | |
| 238 | 238 | 238 |
Notes:
p-value * < 0.05. Race, employment and CEO or business owner are binary variables such that 1 signifies White, employed or CEO or business owner, respectively
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