Complexity

Research Article

The Multifaceted Sustainable Development and Export Intensity of Emerging Market Firms under Financial Constraints: The Role of ESG and Innovative Activity

Table 11

Logit and probit models for the dependent variable of financial constraints.
 Logit modelProbit model
Coefficient (standard error)Coefficient (standard error)
Workcap_banks0.01926 (0.00098)0.01106 (0.00058)
Workcap_nonbanks0.05031 (0.00684)0.02897 (0.00413)
Workcap_bonds0.03307 (0.00599)0.01717 (0.00311)
Techlicence0.01471 (0.04129)0.00190 (0.02462)
R&d0.27897 (0.03904)0.16510 (0.02313)
Safe_energy_prod0.07240 (0.04697)0.03530 (0.02795)
Advanced_lighting0.05619 (0.02961)0.03260 (0.01761)
Foreign_share−0.00374 (0.00071)−0.00196 (0.00042)
Gov_share−0.00145 (0.00216)−0.00040 (0.00125)
Num_empl−0.00027 (0.00020)−0.00017 (0.00012)
Age_sqr−0.00005 (0.00003)−0.00003 (0.00002)
Gdp_ln0.15036 (0.02522)0.06967 (0.01510)
Sizecode−0.10103 (0.02738)−0.06308 (0.01632)
Ind_ef0.00038 (0.00301)0.00177 (0.00179)
Ind_ps−0.84255 (0.02934)−0.47735 (0.01680)
Dummy_ public0.02757 (0.01274)0.01339 (0.00763)
Owner_share0.00051 (0.00058)0.00028 (0.00035)
Rate−0.01801 (0.00452)−0.00928 (0.00269)
Cut11.25441 (0.26055)0.64689 (0.15645)
Cut22.06177 (0.26099)1.13991 (0.15663)
Cut33.28247 (0.26191)1.85658 (0.15691)
Cut44.70046 (0.26342)2.59196 (0.15725)
Log likelihood−24057.07−24114.20
Schwarz criterion48329.1848443.43
AIC48158.1548272.40
Hannan-Quinn criterion48214.4648328.70