Table 5 Interaction effect of Severity×Brand equity/Severity × CSR on CARs: manufacturers.

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

(1)

(2)

(3)

CARs

Brand equity

CSR

Brand equity

CSR

Brand equity

CSR

Severity

      

Class 1

0.0012

(0.0038)

0.0002

(0.0048)

0.0053

(0.0055)

0.0032

(0.0047)

0.0036

(0.0067)

0.0014

(0.0055)

Class 3

−0.0404***

(0.0114)

−0.0402***

(0.0095)

−0.0421***

(0.0128)

−0.0416***

(0.0110)

−0.0408***

(0.0129)

−0.0405***

(0.0113)

Brand equity/CSR

−0.0015

(0.0015)

−0.0043***

(0.0011)

−0.0026***

(0.0010)

−0.0047***

(0.0018)

−0.0014*

(0.0007)

−0.0044***

(0.0017)

Severity × Brand equity/CSR

Class 1× Brand equity/CSR

−0.0014

(0.0075)

−0.0009

(0.0160)

−0.0054

(0.0060)

−0.0046

(0.0138)

−0.0048

(0.0074)

−0.0014

(0.0149)

Class 3× Brand equity/CSR

0.0210*

(0.0120)

0.0339***

(0.0074)

0.0240*

(0.0132)

0.0368***

(0.0087)

0.0215

(0.0147)

0.0368***

(0.0109)

Size

0.0035***

(0.0009)

0.0034***

(0.0009)

0.0038***

(0.0014)

0.0038**

(0.0015)

0.0031*

(0.0019)

0.0031*

(0.0018)

RDI

  

−0.1464

(0.0938)

−0.1002

(0.0807)

−0.1359

(0.0884)

−0.0943

(0.0838)

BL

    

−0.0086

(0.0129)

−0.0093

(0.0115)

BTM

    

0.0036***

(0.0008)

0.0037***

(0.0012)

Year

Yes

Yes

Yes

Yes

Yes

Yes

Obs.

312

312

303

303

298

298

Wald chi2

37.74***

40.78***

17.43***

20.46***

16.62***

14.49***

  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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