Table 8.

Alternative measures of stakeholder attention.

	Dependent variable = No_posts
	Regression (1)		Regression (2)		Regression (3)		Regression (4)			Regression (5)		Regression (6)
Variable	Coefficient	t-value	Coefficient	t-value	Coefficient	t-value	Coefficient	t-value		Coefficient	t-value	Coefficient		t-value
Treat_CSR	3.684***	4.27	4.835***	5.81	2.497***	4.20	3.962***		7.05	5.004***	4.69	6.868***	6.54
Post_CSR	3.328***	3.98	4.044***	3.18	4.624***	7.95	2.470***	2.65		6.248***	5.82	4.048**		2.31
Growth	−10.136***	−4.41	−11.381***	−5.92	−8.184***	−5.21	−8.644***	−6.54		−11.681***	−4.10	−12.660***		−4.89
Roa	−36.452***	−5.86	−40.202***	−7.81	−27.761***	−7.23	−29.874***		−8.85	−44.114***	−6.04	−47.443***	−7.24
Loss	−4.188**	−2.27	−4.440***	−2.85	−3.624***	−3.30	−3.712***	−3.91		−4.318**	−2.04	−4.512**		−2.36
Size	1.059***	2.98	1.208***	3.98	.920***	4.24	1.046***	5.40		.763*	1.78	.933**		2.39
Lev	−14.140***	−6.33	−15.925***	−7.90	−10.266***	−6.98	−10.969***		−8.13	−13.677***	−5.05	−15.045***	−5.82
Stkhd	7.610***	10.06	8.227***	12.21	5.061***	10.40	5.227***		12.15	8.862***	9.89	9.321***	11.07
Board	−1.025***	−6.84	−1.140***	−8.40	−0.568***	−5.32	−0.650***	−6.97		−1.359***	−7.29	−1.486***		−8.45
INTERCEPT	−73.384***	−8.97	−95.312***	−12.59	−53.056***	−9.82	−66.355***	−13.12		−77.228***	−7.74	−99.564***		−10.14
Date FE	No		Yes		No		Yes			No		Yes
Adjusted R2	.097		.296		.112		.299			.098		.204
Observation	3047		3047		3047		3047			3047		3047

Note: ***, ** and * represent the 1%, 5% and 10 % levels of significance, respectively.