Table 4.
Impact of CSR activities on stakeholder attention.
| Dependent variable= Cdindex |
||||
|---|---|---|---|---|
| Regression (1) |
Regression (2) |
|||
| Variable | Coefficient | t-value | Coefficient | t-value |
| Treat_CSR | 80.150*** | 19.06 | 103.728*** | 25.95 |
| Post_CSR | 62.699*** | 16.80 | 20.769*** | 3.93 |
| Growth | 111.581*** | 9.27 | 113.089*** | 10.70 |
| Roa | −97.613*** | −3.76 | −97.270*** | −4.73 |
| Loss | 74.945*** | 8.26 | 74.625*** | 9.95 |
| Size | 15.094*** | 10.31 | 15.371*** | 12.54 |
| Lev | −136.329*** | −14.63 | −135.692*** | −17.81 |
| Stkhd | 22.851*** | 7.40 | 22.618*** | 8.25 |
| Board | −13.829*** | −14.99 | −14.022*** | −17.61 |
| INTERCEPT | −262.761*** | −8.61 | −358.900*** | −12.36 |
| Date FE | NO | YES | ||
| Adjusted R2 | .243 | .449 | ||
| Observation | 6080 | 6080 | ||
Note: ***, ** and * represent the 1%, 5% and 10 % levels of significance, respectively.