TABLE 3.

2SLS regression for cognitive CEO and sustainability.

Variables	SUSGR (1)	SUSGR (2)	MNGR (3)	MNGR (4)
CGCEO	0.351**	0.343**	0.216**	0.269**
	(0.210)	(0.206)	(0.103)	(0.117)
EPS	0.194***	0.196***	0.125*	0.145*
	(0.0549)	(0.0533)	(0.0751)	(0.0873)
Leverage	−0.806**	−0.773**	−0.408*	−0.471*
	(0.314)	(0.312)	(0.202)	(0.261)
LNTA	0.376**	0.390**	0.138***	0.155***
	(0.0601)	(0.0600)	(0.0522)	(0.0583)
SOE	0.164	0.146	–0.155	–0.188
	(0.145)	(0.142)	(0.109)	(0.127)
Fage		0.00121		0.00408
		(0.0134)		(0.0110)
Dual		–0.159		0.00376
		(0.172)		(0.141)
INDDIR	–0.0690	–0.0707	0.0159	0.0203
	(0.0529)	(0.0531)	(0.0412)	(0.0507)
LNEMP	–0.0483	–0.0554	−0.0965**	−0.110**
	(0.0584)	(0.0609)	(0.0427)	(0.0473)
IndustryDummy	Included	Included	Included	Included
YearDummy	Included	Included	Included	Included
Constant	3.493	3.481	−5.900**	−7.033**
	(3.669)	(3.665)	(2.301)	(3.116)
Observations	1,405	1,380	1,405	1,385
R-squared	0.147	0.132	0.098	0.090

Standard errors in parentheses: ***p < 0.01, **p < 0.05, *p < 0.1.