Results of models' estimation for global datasets of CSR firms
| RE | FE with robust s.e | |
|---|---|---|
| Variables | CSR global | CSR global robust |
| d_ESG | −0.0922** | −0.0715 |
| (0.0462) | (0.0540) | |
| ESG | −0.00149*** | −0.00158 |
| (0.000535) | (0.00146) | |
| Beta | −0.0199 | −0.00486 |
| (0.0137) | (0.0200) | |
| BTM | −0.101*** | −0.175*** |
| (0.0136) | (0.0415) | |
| lnMVE | −0.00496 | −0.136*** |
| (0.00633) | (0.0301) | |
| Constant | 0.298** | 3.096*** |
| (0.134) | (0.644) | |
| Observations | 5,856 | 5,856 |
| Number of id | 732 | 0.007 |
| RE | FE with robust s.e | |
|---|---|---|
| Variables | CSR global | CSR global robust |
| d_ESG | −0.0922** | −0.0715 |
| (0.0462) | (0.0540) | |
| ESG | −0.00149*** | −0.00158 |
| (0.000535) | (0.00146) | |
| Beta | −0.0199 | −0.00486 |
| (0.0137) | (0.0200) | |
| BTM | −0.101*** | −0.175*** |
| (0.0136) | (0.0415) | |
| lnMVE | −0.00496 | −0.136*** |
| (0.00633) | (0.0301) | |
| Constant | 0.298** | 3.096*** |
| (0.134) | (0.644) | |
| Observations | 5,856 | 5,856 |
| Number of id | 732 | 0.007 |
Note(s): Standard errors in parentheses
***p < 0.01, **p < 0.05, *p < 0.1
Source(s): Authors' calculations
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