Table 4.

Regression of circular economy disclosure on councillors’ education and experience

VariablesModel (1)Model (2)Model (3)
Control variables
Language11.825 (13.070)6.029 (14.271)2.742 (13.532)
Diversity6.278 (33.771)−0.804 (33.301)6.385 (31.567)
Total_Revenue0.010*** (0.003)0.011*** (0.003)0.012*** (0.003)
Independent variables
Education 6.059*** (2.233)7.178*** (2.137)
Experience −4.214** (1.769)6.545* (3.533)
Sector membership −0.745 (11.163)58.892** (20.224)
Interaction
Sector x Experience  −13.096*** (3.788)
Intercept24.335 (18.063)36.731* (21.713)−14.289 (25.289)
Observations100100100
R-squared0.1440.2200.309
Adj R-squared0.1170.1670.257
F5.374.365.89
Prob>F0.00180.00060.0000
Mean VIF1.021.57 

Notes:

Standard errors in parentheses. ***p < 0.01; **p < 0.05; *p < 0.1.

For the definition of the variables, see Table 1 

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