Board Gender Diversity and ESG Disclosure: Does Board Meeting Attendance Matters?
Table 5: Multiple Regression Results Using Heteroskedastic Panels Corrected Standards Errors (HPCSE)
| Direct Effect |
Moderating Effect |
|
Model 1 |
Model 2 |
Model 3 |
Model 4 |
Model 5 |
Model 6 |
Model 7 |
Model 8 |
| Exploratory Variables |
DV= ESGD |
DV= ENV |
DV= SOC |
DV= GOV |
DV= ESGD |
DV= ENV |
DV= SOC |
DV= GOV |
|
|
|
|
|
|
|
|
|
| BGD |
0.3467 (0.000)*** |
0.4417 (0.000)*** |
0.2839 (0.000)*** |
0.1631 (0.000)*** |
0.3427 (0.000)*** |
0.4417 (0.000)*** |
0.2839 (0.000)*** |
0.1631 (0.000)*** |
| BMAT |
0.0689 (0.009)*** |
0.0865 (0.015)** |
0.05880 (0.050)** |
0.0497 (0.002)*** |
0.0689 (0.009)*** |
0.0865 (0.015)** |
0.0588 (0.050)** |
0.0497 (0.002)*** |
| CMASS |
-1.0394 (0.152) |
-1.5161 (0.115) |
-0.3157 (0.703) |
-0.8910 (0.034) |
-1.0394 (0.152) |
-1.5161 (0.115) |
-0.3157 (0.703) |
-0.8910 (0.034) |
| FEMCEO |
0.1227 (0.925) |
-0.1516 (0.931) |
-0.4606 (0.776) |
0.2527 (0.754) |
0.1227 (0.925) |
-0.1516 (0.931) |
-0.4606 (0.776) |
0.2527 (0.754) |
| FEMCHAIR |
-0.0297 (0.984) |
-0.1373 (0.943) |
1.5173 (0.416) |
-0.5641 (0.502) |
-0.0297 (0.984) |
-0.1373 (0.943) |
1.5173 (0.416) |
-0.5641 (0.502) |
| BGD*BMAT |
|
|
|
|
0.1023 (0.546) |
0.0693 (0.760) |
0.1833 (0.343) |
0.1400 (0.160) |
| CMASS*BMAT |
|
|
|
|
3.6239 (0.578) |
8.5071 (0.329) |
-6.8881 (0.350) |
2.0369 (0.593) |
| FEMCEO*BMAT |
|
|
|
|
55.5551 (0.000)*** |
82.8773 (0.000)*** |
49.0095 (0.003)** |
9.5450 (0.225) |
| FEMCHAIR*BMAT |
|
|
|
|
-55.4500 (0.000)*** |
-88.2499 (0.000)*** |
-25.2191 (0.170) |
-11.5303 (0.136) |
| CEODUALITY |
1.5000 (0.006)*** |
2.8652 (0.000)*** |
-0.0078 (0.990) |
0.4747 (0.148) |
1.5461 (0.004)** |
2.9288 (0.000)*** |
-0.0078 (0.972) |
0.4747 (0.148) |
| BSIZE |
2.0145 (0.000)*** |
2.6180 (0.000)*** |
1.5892 (0.000)*** |
1.0614 (0.000)*** |
2.0043 (0.000)*** |
2.6024 (0.000)*** |
1.5892 (0.000)*** |
1.0614 (0.000)*** |
| FSIZE |
-3.4559 (0.000)*** |
-4.8766 (0.000)*** |
-2.5487 (0.000)*** |
-1.3440 (0.000)*** |
-3.4463 (0.000)*** |
-4.8584 (0.000)*** |
-2.5487 (0.000)*** |
-1.3440 (0.000)*** |
| INDPDIR |
0.3016 (0.000)*** |
0.3792 (0.000)*** |
0.2733 (0.000)*** |
0.1820 (0.000)*** |
0.2967 (0.000)*** |
0.3713 (0.000)*** |
0.2711 (0.000)*** |
0.1820 (0.000)*** |
| CONS |
-10.1139 (0.006)*** |
-30.1733 (0.000)*** |
-7.9196 (0.057) |
31.4123 (0.000)*** |
-4.0621 (0.171) |
-22.4062 (0.000)*** |
-2.8821 (0.401) |
31.4123 (0.000)*** |
| Prob>chi2 |
|
0.0000*** |
|
0.0000*** |
|
0.0000*** |
|
0.0000*** |
|
0.0000*** |
|
0.0000*** |
|
0.0000*** |
|
0.0000*** |
| Wald chi2 |
|
1079.94 |
|
1064.13 |
|
509.64 |
|
726.49 |
|
1130.56 |
|
1125.60 |
|
527.42 |
|
726.49 |
| R2 |
|
0.2958 |
|
0.2908 |
|
0.1774 |
|
0.2213 |
|
0.3006 |
|
0.2981 |
|
0.1799 |
|
0.2213 |
| Hausman’s test |
200.86(p=0.0000)*** |
164.33(p=0.0000)*** |
126.76 (p=0.0000)*** |
165.35 (p=0.0000)* |
187.58(p=0.0000)*** |
134.29(p=0.0000)*** |
111.20(p=0.0000)*** |
166.83 (p=0.0000)* |
| Hetero. Test |
2.2e+07(p=0.0000) *** |
1.8e+31 (p=0.0000)*** |
2.4e+29(p=0.0000)*** |
1.5e+07(p=0.0000)*** |
8.7e+30(p=0.0000)*** |
6.1e+07(p=0.0000)*** |
1.5e+07(p=0.0000)*** |
1.5e+07(p=0.0000)*** |
< Back to article
