Table 8 Alternative measurements.
From: CSR decoupling and stock price crash risk: Evidence from China
(1) | (2) | (3) | |
|---|---|---|---|
CRSAHt+1 | NCSKEWt+1 | DUVOLt+1 | |
CSR_GAPt | 0.0766** | ||
(1.9938) | |||
CSR_GAP2t | 0.0233*** | 0.0119* | |
(3.1104) | (1.9771) | ||
Sigmat | −0.9031 | −0.2163 | −0.8574 |
(−0.2417) | (−0.1967) | (−1.0149) | |
Rett | 8.5992 | 11.0356*** | 7.5142*** |
(0.9484) | (4.4476) | (5.4148) | |
Levt | −0.4023 | 0.0861 | 0.0834* |
(−1.0938) | (1.1111) | (1.9481) | |
Sizet | −0.0024 | 0.0364** | 0.0113 |
(−0.0415) | (2.5483) | (1.0979) | |
BMt | −0.0512 | −0.0640** | −0.0384** |
(−0.8842) | (−2.8656) | (−2.8290) | |
ROAt | −0.9565 | 0.8548*** | 0.4352** |
(−0.9045) | (3.0120) | (2.7018) | |
Opaquet | 0.6903 | 0.1252 | 0.1386** |
(1.2227) | (1.2813) | (2.3216) | |
Dturnt | −0.1345 | −0.0979 | −0.0328 |
(−0.6191) | (−1.4449) | (−0.7940) | |
_cons | −1.2018 | −1.1876*** | −0.4695* |
(−0.8720) | (−3.4114) | (−1.7713) | |
Year & Industry FE | Yes | Yes | Yes |
Observations | 5297 | 5297 | 5297 |
Pseudo-R2 | 0.0195 | ||
Adjusted R2 | 0.0720 | 0.0728 |
