From: Board gender diversity and corporate social responsibility
 | Panel A. Four SCV Sub-Variables | Panel B. (Four SCV Sub-Variables / Total Assets) | Panel C. (Four SCV Sub-Variables / Shares Outstanding) | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
salary | divid | tax | interest | salaryta | dividta | taxta | interestta | salaryq | dividq | taxq | interestq | |
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | |
fidd | 0.0536*** | 0.385*** | 0.0622 | -0.224*** | 0.318*** | 0.224*** | 0.0974*** | -0.0271*** | 0.246*** | 0.147*** | 0.0521*** | -0.00262* |
(3.52) | (4.52) | (0.90) | (-3.65) | (3.99) | (4.97) | (6.70) | (-6.28) | (9.00) | (7.34) | (7.93) | (-1.66) | |
asset | 0.552*** | 1.226*** | 1.184*** | 1.118*** | -1.340*** | 0.0301** | -0.0701*** | 0.0100*** | -0.152*** | 0.0781*** | 0.00409** | 0.0115*** |
(104.17) | (42.80) | (50.38) | (52.47) | (-53.91) | (2.22) | (-15.68) | (7.46) | (-17.83) | (12.57) | (1.99) | (22.40) | |
debt | 0.00132*** | -0.0317*** | -0.00985*** | 0.0932*** | 0.0113*** | -0.0246*** | -0.00260*** | 0.00683*** | 0.0106*** | -0.00148*** | 0.00140*** | 0.00258*** |
(3.83) | (-17.12) | (-6.23) | (64.97) | (6.36) | (-25.60) | (-8.03) | (66.19) | (17.65) | (-3.46) | (9.63) | (67.83) | |
roa | 0.0205*** | 0.323*** | 0.254*** | 0.00124 | 0.107*** | 0.207*** | 0.0679*** | -0.000654*** | 0.0564*** | 0.0759*** | 0.0237*** | 0.000183** |
(33.69) | (98.71) | (86.08) | (0.43) | (33.41) | (111.19) | (108.06) | (-3.24) | (51.20) | (93.02) | (84.99) | (2.42) | |
insthold | -0.00144*** | 0.000279 | -0.00568*** | -0.0104*** | 0.00702*** | 0.00558*** | -0.000104 | -0.000689*** | 0.00204*** | 0.00557*** | 0.00103*** | -0.000175*** |
(-5.17) | (0.18) | (-4.58) | (-9.39) | (4.86) | (6.92) | (-0.39) | (-8.73) | (4.06) | (15.20) | (8.58) | (-5.92) | |
family | -0.210*** | -0.223*** | -0.0148 | 0.434*** | -1.012*** | -0.154*** | -0.0275** | 0.0376*** | -0.347*** | -0.116*** | -0.0293*** | 0.0102*** |
(-17.97) | (-3.43) | (-0.28) | (9.26) | (-16.73) | (-4.52) | (-2.48) | (11.40) | (-16.9ind1) | (-7.73) | (-5.94) | (8.51) | |
constant | 3.774*** | -11.50*** | -10.76*** | -12.55*** | 26.05*** | 1.744*** | 1.566*** | -0.156*** | 3.480*** | -0.761*** | 0.000829 | -0.191*** |
(49.90) | (-28.30) | (-32.13) | (-41.03) | (73.92) | (9.13) | (24.88) | (-8.15) | (29.13) | (-8.72) | (0.03) | (-26.27) | |
Num. of obs. | 15,436 | 17,440 | 13,980 | 14,162 | 15,546 | 17,506 | 14,918 | 14,459 | 14,399 | 16,302 | 13,776 | 13,366 |
Adj. R-square | 0.487 | 0.455 | 0.447 | 0.389 | 0.206 | 0.469 | 0.461 | 0.270 | 0.181 | 0.418 | 0.379 | 0.322 |
Prob. of F-stat. | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |