Table 7.

Median regression results.

Profitability	Coef.	Std. Err	t	p > |t|	[95% Conf. Interval]
Constant	61.421	12.956	4.74	0.000	35.941	86.901
Independent Variables:
Innovation	−81.662	30.384	−2.69	0.008	−141.418	−21.906
Advertising	−7.117	2.308	−3.08	0.002	−11.657	−2.578
Personal Selling	6.494	2.144	3.03	0.003	2.278	10.710
Sustainability	9.898	3.305	2.99	0.003	3.397	16.398
Control Variables:
Ln (Firm Age)	−5.167	1.459	−3.54	0.000	−8.036	−2.297
Ln (Asset Size)	−0.699	0.662	−1.06	0.292	−2.002	0.603
Ln (Total Number of Employees)	0.403	0.887	0.45	0.650	−1.342	2.148
Debt to Net Worth Ratio	−1.687	1.049	−1.61	0.109	−3.750	0.376
Model-fitting metrics:
Pseudo R2	0.1472
Observations	364