Table 4 Regression results of the models related to the solar energy sector.

From: Enhancing financial sustainability: the power of intellectual capital in India’s renewable energy industry

 

Solar energy sector

Log EBIT

ROA

 

Model 1a (REM)

Model 2a (REM)

Model 3a (REM)

Model 1b (REM)

Model 2b (REM)

Model 3b (REM)

Constant

−1.00*** [0.2118]

−1.4386*** [0.1749]

−0.1443 [0.4279]

0.0989** [0.0442]

0.0951* [0.0519]

−0.0207 (0.1036)

MVAIC

0.0036** [0.0017]

  

0.0005** [0.0002]

  

HCE

 

0.0002 [0.0024]

−1.2921*** [0.3864]

 

0.0003 [0.0003]

0.1228 (0.1008)

SCE

 

0.0355 [0.0231]

0.0134 [0.0220]

 

−0.0023 [0.0070]

−0.0033 (0.0074)

RCE

 

0.1938 [0.2952]

−0.4192 [0.2837]

 

−0.0951 [0.0794]

−0.1412** (0.0592)

CEE

 

1.0317*** [0.3332]

1.0207*** [0.3263]

 

0.1284*** [0.0461]

0.1052*** (0.0364)

HCE*SCE

  

1.2905*** [0.3845]

  

−0.1230 (0.1008)

HCE*RCE

  

0.3336** [0.1430]

  

0.0459* (0.0250)

HCE*CEE

  

−0.0131 [0.0087]

  

0.0025 (0.0035)

Size

0.9332*** [0.0499]

1.0279*** [0.0350]

1.0356*** [0.0389]

−0.0050 [0.0093]

0.0012 [0.0091]

−0.0011 (0.0113)

Leverage

−0.0727 [0.1509]

−0.2486* [0.1369]

−0.2991** [0.1391]

−0.1205*** [0.0292]

−0.1687*** [0.0367]

−0.1694*** (0.0188)

R2

0.9074

0.9479

0.9528

0.4596

0.5197

0.5449

F/Wald Chi2

386.48***

1456.35***

1688.12***

18.28***

77.12***

99.34***

N

151

130

130

188

163

163

  1. ***, **, and * indicate significance at 1%, 5%, and 10% levels, respectively. “()” indicates standard error; “[]” indicates robust standard error. “FEM” stands for Fixed Effect model, while “REM” stands for Random Effect model.
  2. Source(s): Authors’ compilation.
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