Table 4 Empirical models (1) (2) (3)... | Emerald Publishing

Table 4

Empirical models

	(1)	(2)	(3)
	ESG_score	ESG_score	ESG_score
Females	0.275*** (0.0491)	0.235*** (0.0485)	0.232*** (0.0485)
ExecutiveFemales		0.189*** (0.0323)	0.187*** (0.0345)
Cultural			0.113** (0.0453)
ExecutiveCultural			0.110** (0.0503)
InteractionExecutives			−0.000530 (0.00163)
Board_Skills	0.148*** (0.0300)	0.130*** (0.0295)	0.135*** (0.0295)
Board_Indep	0.113*** (0.0316)	0.124*** (0.0310)	0.113*** (0.0313)
Board_Size	0.246 (0.178)	0.154 (0.174)	0.159 (0.175)
LogTA	1.151 (1.056)	1.044 (1.033)	1.176 (1.033)
Price	−0.718*** (0.161)	−0.601*** (0.159)	−0.597*** (0.159)
ROE	−0.00552 (0.00484)	−0.00560 (0.00474)	−0.00534 (0.00473)
LogSales	2.189** (0.878)	2.346*** (0.859)	2.394*** (0.857)
D_E	−0.0754 (0.0852)	−0.0518 (0.0834)	−0.0348 (0.0835)
_cons	44.35*** (15.74)	36.16** (15.46)	35.07** (15.41)
N	925	925	925
R-squared	0.1391	0.1774	0.1861
F-Stat (sig)	0.0000	0.0000	0.0000

	(1)	(2)	(3)
	ESG_score	ESG_score	ESG_score
Females	0.275*** (0.0491)	0.235*** (0.0485)	0.232*** (0.0485)
ExecutiveFemales		0.189*** (0.0323)	0.187*** (0.0345)
Cultural			0.113** (0.0453)
ExecutiveCultural			0.110** (0.0503)
InteractionExecutives			−0.000530 (0.00163)
Board_Skills	0.148*** (0.0300)	0.130*** (0.0295)	0.135*** (0.0295)
Board_Indep	0.113*** (0.0316)	0.124*** (0.0310)	0.113*** (0.0313)
Board_Size	0.246 (0.178)	0.154 (0.174)	0.159 (0.175)
LogTA	1.151 (1.056)	1.044 (1.033)	1.176 (1.033)
Price	−0.718*** (0.161)	−0.601*** (0.159)	−0.597*** (0.159)
ROE	−0.00552 (0.00484)	−0.00560 (0.00474)	−0.00534 (0.00473)
LogSales	2.189** (0.878)	2.346*** (0.859)	2.394*** (0.857)
D_E	−0.0754 (0.0852)	−0.0518 (0.0834)	−0.0348 (0.0835)
_cons	44.35*** (15.74)	36.16** (15.46)	35.07** (15.41)
N	925	925	925
R-squared	0.1391	0.1774	0.1861
F-Stat (sig)	0.0000	0.0000	0.0000

Notes:

Standard errors in parentheses. *p < 0.10; **p < 0.05; ***p < 0.01

Source: Authors’ own work