Table 7 Regression
(1) | (2) | (3) | |
|---|---|---|---|
Variables | WC | WC | WC |
ESG | − 0.001*** | − 0.002*** | − 0.002*** |
(− 2.59) | (− 3.55) | (− 3.54) | |
ESG*VI | 0.001*** | 0.001*** | 0.001*** |
(3.00) | (3.64) | (3.65) | |
FS | 0.017*** | 0.016*** | 0.016*** |
(2.86) | (2.99) | (2.95) | |
DR | − 0.168*** | − 0.164*** | − 0.164*** |
(− 6.48) | (− 6.85) | (− 6.86) | |
FA | 0.006 | 0.005 | 0.005 |
(0.95) | (1.00) | (0.99) | |
RSP | 0.794*** | 0.841*** | 0.840*** |
(4.15) | (4.89) | (4.89) | |
VOLT | − 0.474*** | − 0.518*** | − 0.519*** |
(− 4.20) | (− 5.02) | (− 5.02) | |
RRR | 0.032** | ||
(2.29) | |||
OP | 0.001** | ||
(2.04) | |||
OD | − 0.104 | ||
(− 0.45) | |||
Constant | − 0.002 | − 0.012 | 1.467 |
(− 0.04) | (− 0.19) | (0.46) | |
Observations | 520 | 581 | 581 |
Year & country fix | Yes | Yes | Yes |
Adj R2 | 0.408 | 0.399 | 0.399 |
F-stat | 18.11 | 20.74 | 19.63 |