Table 10.

Generalized linear regression with CR and CSR.

Dependent variable	REG	ROA	ROE	ATO
C	0.001426	−0.001048	−0.001423	−0.001374
COVID-19	−0.002314***	−0.001258***	−0.001353***	−0.001685***
CC	0.002382***	0.001349***	0.001831***	0.001991***
COVID-19*CC	0.000120***	0.000096***	0.000104***	0.000112***
CSR	0.001228**	0.001029**	0.001038*	0.0000129*
COVID-19*CSR	0.000082*	0.000043*	0.000035*	0.000057*
COVID-19*Medicine*CC	0.008230***	0.005282***	0.004982***	0.005872***
COVID-19*ATE*CC	0.006831**	0.004338**	0.003281**	0.004482**
COVID-19*DSR*CC	−0.000827**	−0.000429**	−0.000381**	−0.000608**
COVID-19*DHR*CC	−0.001182*	−0.001093*	−0.000812*	−0.0001042*
COVID-19*East*CC	−0.000128*	−0.000127*	−0.000138*	−0.000192*
COVID-19*Central*CC	−0.003621**	−0.001823**	−0.001338**	−0.002142**
COVID-19*West*CC	−0.000372*	−0.000239*	−0.000216*	−0.000182*
COVID-19*DHB*CC	0.000225*	0.000142*	0.000129*	0.000231*
COVID-19*Medicine*CSR	0.002982**	0.002392**	0.002426**	0.001093**
COVID-19*ATE*CSR	0.002938*	0.002178*	0.001982*	0.000128*
COVID-19*DSR*CSR	−0.000292*	−0.000224*	−0.000183*	−0.000198*
COVID-19*DHR*CSR	−0.000394*	−0.000242*	−0.000221*	−0.000128*
COVID-19*East*CSR	−0.000117*	−0.000087*	−0.000079*	−0.000126*
COVID-19*Central*CSR	−0.000382**	−0.000212*	−0.000192*	−0.000223**
COVID-19*West*CSR	−0.000115*	−0.000098*	−0.000079*	−0.000143*
COVID-19*DHB*CSR	0.000213*	0.000168*	0.000192*	0.000179*
Liquidity	−0.000382	0.000283*	0.000155*	−0.002564
CCC	−0.000313*	−0.002556	−0.001426	−0.000455*
Capital structure	−0.002861	−0.000496*	−0.000835*	−0.002863
State ownership	−0.000230*	0.000289	0.000232	0.000736
Size	0.000134	0.000692*	0.000324*	0.000122
F-statistics	129.82463***	82.98143***	86.82736***	117.98133***

^*** is 0.01 significance level;

^** is 0.05 significance level;

^*is 0.1 significance level (cross-section weights and white cross-section variance method).