Table 4 Interaction effect of Severity×Brand equity/Severity×CSR on CARs: overall sample.

From: Hold up an umbrella on rainy days: the insurance-like effects of brand equity and corporate social responsibility during Chinese product-harm crises

Dep. variables

CARs

(1)

(2)

(3)

Brand equity

CSR

Brand equity

CSR

Brand equity

CSR

Severity

Class 1

−0.0035

(0.0053)

−0.0015

(0.0033)

0.0002

(0.0059)

−0.0001

(0.0035)

−0.0013

(0.0062)

−0.0018

(0.0038)

Class 2

0.0142

(0.0110)

0.0200

(0.0192)

0.0133

(0.0121)

0.0189

(0.0205)

0.0096

(0.0140)

0.0153

(0.0231)

Class 3

−0.0375***

(0.0121)

−0.0366***

(0.0114)

−0.0373***

(0.0128)

−0.0365***

(0.0122)

−0.0361***

(0.0130)

−0.0354***

(0.0126)

Brand equity/CSR

−0.0005

(0.0018)

−0.0033**

(0.0114)

0.0005

(0.0016)

−0.0034***

(0.0009)

0.0014

(0.0010)

−0.0030***

(0.0008)

Severity × Brand equity/CSR

Class 1 × Brand equity/CSR

0.0089

(0.0121)

0.0035

(0.0114)

0.0003

(0.0094)

0.0009

(0.0106)

0.0007

(0.0095)

0.0038

(0.0117)

Class 2 × Brand equity/CSR

−0.0069

(0.0073)

−0.0220

(0.0224)

−0.0079

(0.0077)

−0.0211

(0.0233)

−0.0008

(0.0076)

−0.0184

(0.0264)

Class 3 × Brand equity/CSR

0.0203*

(0.0117)

0.0301***

(0.0104)

0.0202*

(0.0123)

0.0325***

(0.0112)

0.0180

(0.0131)

0.0329**

(0.0130)

Size

0.0026*

(0.0014)

0.0034**

(0.0014)

0.0028**

(0.0013)

0.0034***

(0.0009)

0.0022

(0.0019)

0.0026*

(0.0016)

RDI

  

0.0223

(0.0150)

0.0267

(0.0219)

0.0258*

(0.0152)

0.0289

(0.0216)

BL

    

−0.0076

(0.0099)

−0.0094

(0.0085)

BTM

    

0.0031*

(0.0016)

0.0038**

(0.0016)

Year

Yes

Yes

Yes

Yes

Yes

Yes

Obs.

409

409

379

379

371

371

Wald chi2

10.80**

13.34***

34.23***

16.40***

38.24***

14.73***

  1. *p < 0.1, **p < 0.05, and ***p < 0.01, and standard errors are reported in parentheses. The bold values are intended to facilitate the quick identification of the key results.
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