Results of the regression analysis (ordinary least squares, interaction effects with extractive industry)
| (1) | (2) | |
|---|---|---|
| MB | ROA | |
| Structural power | 0.111 (0.090) | −0.010 (0.012) |
| Expert power | 0.409*** (0.141) | 0.026 (0.019) |
| Prestige power | 0.077 (0.072) | −0.019* (0.010) |
| Ownership power | 0.095 (0.089) | 0.015 (0.012) |
| State ownership | −0.088 (0.062) | 0.013 (0.009) |
| Oligarch ownership | 0.247*** (0.073) | 0.009 (0.010) |
| Structural power*Extractive industry | −0.207 (0.169) | −0.026 (0.023) |
| Expert power*Extractive industry | −0.797*** (0.236) | −0.075** (0.032) |
| Prestige power*Extractive industry | −0.199* (0.116) | 0.077*** (0.016) |
| Ownership power*Extractive industry | −0.089 (0.150) | −0.032 (0.020) |
| Extractive industry | 0.426** (0.177) | 0.055** (0.024) |
| Constant | 0.100 (0.360) | 0.019 (0.049) |
| Observations | 325 | 325 |
| R2 | 0.535 | 0.298 |
| Control variables | Included | Included |
| Year dummies | Included | Included |
| Industry dummies | Included | Included |
| (1) | (2) | |
|---|---|---|
| MB | ROA | |
| Structural power | 0.111 (0.090) | −0.010 (0.012) |
| Expert power | 0.409*** (0.141) | 0.026 (0.019) |
| Prestige power | 0.077 (0.072) | −0.019* (0.010) |
| Ownership power | 0.095 (0.089) | 0.015 (0.012) |
| State ownership | −0.088 (0.062) | 0.013 (0.009) |
| Oligarch ownership | 0.247*** (0.073) | 0.009 (0.010) |
| Structural power*Extractive industry | −0.207 (0.169) | −0.026 (0.023) |
| Expert power*Extractive industry | −0.797*** (0.236) | −0.075** (0.032) |
| Prestige power*Extractive industry | −0.199* (0.116) | 0.077*** (0.016) |
| Ownership power*Extractive industry | −0.089 (0.150) | −0.032 (0.020) |
| Extractive industry | 0.426** (0.177) | 0.055** (0.024) |
| Constant | 0.100 (0.360) | 0.019 (0.049) |
| Observations | 325 | 325 |
| 0.535 | 0.298 | |
| Control variables | Included | Included |
| Year dummies | Included | Included |
| Industry dummies | Included | Included |
Note(s): Standard errors are in parentheses
***p < 0.01, **p < 0.05, *p < 0.1
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