Table 7 FGLS regression results (Models 1 & 3).
Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
|---|---|---|---|---|---|---|---|---|
TQ | ROA | ROE | ROIC | TQ | ROA | ROE | ROIC | |
CSRqn | −0.327*** | −0.523*** | −0.813** | −0.619*** | −0.317*** | −0.494** | −0.852** | −0.602** |
(0.019) | (0.199) | (0.344) | (0.235) | (0.021) | (0.204) | (0.367) | (0.241) | |
MVAIC | −0.030* | 1.638*** | 2.153*** | 1.621*** | −0.029 | 1.625*** | 2.361*** | 1.631*** |
(0.018) | (0.162) | (0.275) | (0.187) | (0.019) | (0.169) | (0.313) | (0.199) | |
CSRqn*MVAIC | −0.012 | −0.279** | −0.587** | −0.305** | ||||
(0.013) | (0.132) | (0.231) | (0.154) | |||||
_cons | −6.688*** | −21.517*** | −50.494*** | −29.521*** | −6.404*** | −21.627*** | −49.678*** | −29.723*** |
(0.438) | (2.825) | (5.531) | (3.850) | (0.441) | (2.909) | (5.915) | (3.895) | |
Control variables | Included | |||||||
Observations | 832 | 832 | 832 | 832 | 832 | 832 | 832 | 832 |
Wald chi2 | 3644.11*** | 1097.84*** | 991.95*** | 1039.48*** | 2224.07*** | 1041.33*** | 855.65*** | 1012.02*** |
Year/Sector Dummies | Included | |||||||
