Table 11.
Generalized linear regression in state-ownership list companies.
| Dependent variable | REG | ROA | ROE | ATO |
|---|---|---|---|---|
| C | 0.027817 | −0.022708*** | −0.056606*** | 0.108270*** |
| COVID-19 | −0.003135*** | −0.002306*** | −0.002418*** | −0.003216*** |
| DSO | 0.000343*** | 0.000221*** | 0.000127*** | 0.000259*** |
| COVID-19*DSO | 0.001431*** | 0.001325*** | 0.001164*** | 0.001273*** |
| CC | 0.000832*** | 0.000563*** | 0.000329*** | 0.000664*** |
| COVID-19*DSO*CC | 0.000272* | 0.000118* | 0.000105* | 0.000198* |
| CSR | 0.000629** | 0.000483** | 0.000276** | 0.000489** |
| COVID-19*DSO*CSR | 0.000517* | 0.000386* | 0.000281* | 0.000392* |
| Liquidity | −0.001323 | 0.001124* | 0.001273* | −0.009049 |
| CCC | −9.05E-05* | −4.04E-07 | 2.48E-07 | −2.78E-06* |
| Capital structure | −0.084562 | −0.001925* | −0.001341* | −0.25172 |
| Size | 0.002324 | 0.002461 | 0.005835 | 0.015371 |
| F-statistics | 155.7781*** | 21.30743*** | 46.73687*** | 72.72873*** |
***
is 0.01 at significance level;
**
is 0.05 at significance level;
*
is 0.1 at significance level (cross-section weights and white cross-section covariance method).