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

Table 8

Regression results for the binary dependent variable of the presence of direct exports.

	Coefficient (standard error)
Main equation: Influence on the export dummy
Const	−0.8624 (0.0867)
Shadow_econ	0.1035 (0.0115)
Num_competitors	−0.0004 (0.0006)
Iso	0.0690 (0.0317)
R&D	0.1277 (0.0319)
Sizecode	0.0289 (0.0116)
Export_GDP	0.0003 (0.0005)
Safe_energy_ prod	0.0316 (0.0392)
Fin_obstacle	−0.0039 (0.0081)
Dummy_public	0.1688 (0.0495)
Owner_share	−0.0011 (0.0006)
Dummy_Asia	−0.1478 (0.0337)
Owner_ female	−0.0175 (0.0148)
Politic_gifts	0.0178 (0.0163)
Share_females_workers	0.0001 (0.0005)
Empl_education	0.1589 (0.0310)
Environment_manager	−0.1032 (0.0414)
Eco_standards	0.0923 (0.0371)
Audit_energy_consumpt	−0.0075 (0.0147)
Water_control	0.2134 (0.0300)
Trade_union	−0.0054 (0.0050)
Rate	0.0167 (0.0026)
CEO_experience	0.0030 (0.0013)
Workcap_bonds	0.0038 (0.0023)
Lambda	0.6179
Selection equation: influence on financial constraints
Const	−1.8479 (0.2547)
Shadow_econ	0.1887 (0.0188)
Rate	0.0381 (0.0048)
Num_competitors	−0.0009 (0.0009)
Iso	0.0793 (0.0518)
R&D	0.2029 (0.0515)
Safe_energy_prod	0.0447 (0.0630)
Gdp_ln	0.0539 (0.0233)
Dummy_public	0.3066 (0.0808)
Owner_share	−0.0013 (0.0009)
Dummy_Asia	−0.2104 (0.0547)
Politic_gifts	0.0326 (0.0267)
Share_females_workers	0.0003 (0.0008)
Empl_education	0.2811 (0.0498)
Environment_manager	−0.1353 (0.0651)
Eco_standards	0.1623 (0.0598)
Water_control	0.3670 (0.0473)
CEO_experience	0.0049 (0.0021)