Table 4 Regression results
Model | Â | Unstandardized coefficients | Standardized coefficients | t | Sig. | |
|---|---|---|---|---|---|---|
| Â | B | Std. Error | Beta | |||
Panel (A): the impact of PC on the FV | ||||||
1 | (Constant) | 3.892 | .668 | Â | 5.822 | .000 |
| Â | CEO_gender | 1.111 | .464 | .131 | 2.394 | .017 |
|  | Board_size | − .020 | .012 | − .086 | − 1.632 | .104 |
|  | CEO_duality | − .245 | .120 | − .109 | − 2.043 | .042 |
| Â | Board_Exper | .320 | .124 | .141 | 2.575 | .011 |
|  | Firm_Size | − .398 | .101 | − .215 | − 3.957 | .000 |
| Â | Profitability | .669 | .364 | .099 | 1.837 | .067 |
| Â | Big4 | .290 | .130 | .124 | 2.236 | .026 |
|  | Leverage | − .721 | .318 | − .120 | − 2.269 | .024 |
| Â | Political_Conne | .416 | .124 | .184 | 3.352 | .001 |
Panel (B): the impact of RPTS on the FV | ||||||
1 | (Constant) | 3.797 | .667 | Â | 5.696 | .000 |
| Â | CEO_gender | .860 | .457 | .101 | 1.879 | .061 |
|  | Board_size | − .022 | .012 | − .096 | − 1.835 | .067 |
|  | CEO_duality | − .278 | .120 | − .124 | − 2.311 | .022 |
| Â | Board_Exper | .305 | .124 | .134 | 2.463 | .014 |
|  | Firm_Size | − .304 | .103 | − .164 | − 2.944 | .003 |
| Â | Profitability | .675 | .362 | .100 | 1.863 | .063 |
| Â | Big4 | .328 | .129 | .140 | 2.549 | .011 |
|  | Leverage | − .732 | .316 | − .121 | − 2.320 | .021 |
|  | Related_Party | − .483 | .125 | − .214 | − 3.863 | .000 |