Table 12 The heterogeneity of ESG performance.
Variable | \(RESILIENCE\) | |
|---|---|---|
Better | Worse | |
(1) | (2) | |
\(TREAT\times POST\) | 0.0402 (2.98) | 0.0116 (2.52) |
\(SIZE\) | 0.0085 (2.44) | 0.0002 (2.07) |
\(AGE\) | 0.0632 (1.51) | 0.0204 (0.67) |
\(LEV\) | −0.0222 (−2.67) | −0.0104 (−0.83) |
\(ROA\) | 0.0131 (0.70) | 0.0127 (0.60) |
\(BOARD\) | 0.0113 (1.18) | 0.0140 (1.76) |
\(TOP1\) | −0.0393 (−1.15) | −0.0050 (−0.49) |
\(BM\) | 0.0768 (3.68) | 0.0136 (1.35) |
\(FIXED\) | 0.0002 (0.23) | 0.0009 (0.11) |
Firm FE | Yes | Yes |
Year FE | Yes | Yes |
Obs | 453 | 486 |
Adj R2 | 0.4177 | 0.3821 |
