Table 9.
Controlling for firm market strategies.
| Dependent variable = Cdindex |
||||
|---|---|---|---|---|
| Regression (1) |
Regression (2) |
|||
| Variable | Coefficient | t-value | Coefficient | t-value |
| Treat_CSR | 77.216*** | 17.61 | 100.754*** | 24.74 |
| Post_CSR | 62.601*** | 16.78 | 20.495*** | 3.88 |
| Mktst | 10.405** | 2.56 | 10.888*** | 3.14 |
| Growth | 112.948*** | 9.31 | 114.525*** | 10.73 |
| Roa | −103.096*** | −4.02 | −103.006*** | −5.11 |
| Loss | 71.747*** | 8.11 | 71.278*** | 9.82 |
| Size | 14.773*** | 10.14 | 15.036*** | 12.38 |
| Lev | −133.931*** | −14.30 | −133.181*** | −17.45 |
| Stkhd | 24.724*** | 8.54 | 24.577*** | 9.68 |
| Board | −14.094*** | −14.60 | −14.300*** | −16.99 |
| INTERCEPT | −273.383*** | −9.37 | −370.128*** | −13.34 |
| Date FE | NO | YES | ||
| Adjusted R2 | .244 | .450 | ||
| Observation | 6080 | 6080 | ||
Note: ***, ** and * represent the 1%, 5% and 10 % levels of significance, respectively.