Table 6 Results of estimation of... | Emerald Publishing

Table 6

Results of estimation of non-linear model using CSR datasets

	FE with robust s.e	FE with robust s.e	FE with robust s.e	FE with robust s.e
Variables	CSR global	CSR Asia	CSR EU	CSR NA
ESG	−0.00225	7.73e-05	0.0112*	−0.00904
ESG	(0.00353)	(0.00425)	(0.00621)	(0.00654)
sq_ESG	7.48e-06	−3.74e-06	−0.000186**	0.000107
sq_ESG	(5.17e-05)	(6.30e-05)	(7.92e-05)	(9.65e-05)
Beta	−0.0337*	0.0344	−0.180***	0.0110
Beta	(0.0195)	(0.0292)	(0.0425)	(0.0272)
BTM	−0.113***	−0.0983**	−0.530***	−0.661***
BTM	(0.0365)	(0.0392)	(0.109)	(0.130)
lnMVE	−0.135***	−0.280***	−0.0949	−0.134***
lnMVE	(0.0253)	(0.0405)	(0.0603)	(0.0376)
Constant	3.087***	5.814***	2.531*	3.370***
Constant	(0.541)	(0.847)	(1.390)	(0.817)
Observations	6,588	5,094	1,260	2,205
R-squared	0.007	0.017	0.058	0.033
Number of ids	732	566	140	245

	FE with robust s.e	FE with robust s.e	FE with robust s.e	FE with robust s.e
Variables	CSR global	CSR Asia	CSR EU	CSR NA
ESG	−0.00225	7.73e-05	0.0112*	−0.00904
ESG	(0.00353)	(0.00425)	(0.00621)	(0.00654)
sq_ESG	7.48e-06	−3.74e-06	−0.000186**	0.000107
sq_ESG	(5.17e-05)	(6.30e-05)	(7.92e-05)	(9.65e-05)
Beta	−0.0337*	0.0344	−0.180***	0.0110
Beta	(0.0195)	(0.0292)	(0.0425)	(0.0272)
BTM	−0.113***	−0.0983**	−0.530***	−0.661***
BTM	(0.0365)	(0.0392)	(0.109)	(0.130)
lnMVE	−0.135***	−0.280***	−0.0949	−0.134***
lnMVE	(0.0253)	(0.0405)	(0.0603)	(0.0376)
Constant	3.087***	5.814***	2.531*	3.370***
Constant	(0.541)	(0.847)	(1.390)	(0.817)
Observations	6,588	5,094	1,260	2,205
R-squared	0.007	0.017	0.058	0.033
Number of ids	732	566	140	245

Note(s): Robust standard errors in parentheses

***p < 0.01, **p < 0.05, *p < 0.1

Source(s): Authors' calculations