Regressions results including the “developed” dummy variable
| Variables | (1) | (2) |
|---|---|---|
| DEVELOPED | 0.443*** (0.078) | 0.324** (0.136) |
| GEND | 0.011*** (−0.003) | 0.016*** (0.003) |
| BMEET | 0.016*** (0.003) | 0.011*** (0.003) |
| BSIZE | 0.004 (0.010) | 0.01 (0.012) |
| SKILLS | −0.008*** (0.001) | −0.006*** (0.001) |
| CEO | −0.003 (0.067) | −0.003 (0.085) |
| CSR | 0.961*** (0.077) | 0.802*** (0.070) |
| EMT | 0.534*** (0.074) | 0.501*** (0.074) |
| INDEP | 0.002 (0.002) | 0.005** (0.002) |
| SUST_INC | 0.327*** (0.077) | 0.240*** (0.063) |
| Controls | Yes | Yes |
| Constant | −1.549*** (0.343) | −1.443*** (0.371) |
| Observations | 1.434 | 1.434 |
| R-squared | 0.526 | 0.335 |
| Pooled OLS | Yes | No |
| Random effects | No | Yes |
| Variables | (1) | (2) |
|---|---|---|
| DEVELOPED | 0.443 | 0.324 |
| 0.011 | 0.016 | |
| 0.016 | 0.011 | |
| 0.004 (0.010) | 0.01 (0.012) | |
| −0.008 | −0.006 | |
| −0.003 (0.067) | −0.003 (0.085) | |
| 0.961 | 0.802 | |
| 0.534 | 0.501 | |
| 0.002 (0.002) | 0.005 | |
| SUST_INC | 0.327 | 0.240 |
| Controls | Yes | Yes |
| Constant | −1.549 | −1.443 |
| Observations | 1.434 | 1.434 |
| 0.526 | 0.335 | |
| Pooled | Yes | No |
| Random effects | No | Yes |
This table provides the estimates of the pooled OLS and random-effect regressions for 2011–2022. The dependent variable is the eco-innovation index (ECOINN), while the independent variable of interest is developed (DEVELOPED), a dummy variable equal to 1 if the company’s headquarters is in a developed country, and 0 otherwise. Variables definitions are provided in Table 3. Robust standard errors (SE) are reported in parentheses. ***p < 0.01; **p < 0.05 and *p < 0.10
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