Research Article
The Relationship between Corporate Social Responsibility and Firm Value of Chinese Firms: Exploring from Degree of Internationalization
Table 5
Robustness check: GLS method.
| | (1) | (2) | (3) | (4) |
| Board size | 0.068 | 0.031 | 0.029 | 0.036 | [0.137] | [0.139] | [0.138] | [0.138] | Firm size | −2.792 | −2.736 | −2.857 | −3.102 | [0.579] | [0.598] | [0.599] | [0.602] | Leverage | −10.700 | −10.500 | −10.450 | −10.400 | [1.486] | [1.545] | [1.543] | [1.538] | R&D | 0.567 | 0.497 | 0.529 | 0.570 | [0.256] | [0.262] | [0.011] | [0.261] | Subsidiaries | 0.060 | 0.061 | 0.059 | 0.059 | [0.011] | [0.011] | [0.011] | [0.011] | CSR | | −0.026 | −0.130 | −0.123 | | [0.011] | [0.059] | [0.059] | CSR2 | | | 0.00182 | 0.00176 | | | [0.001] | [0.001] | DOI | | | | −3.886 | | | | [1.143] | Constant | 20.120 | 19.150 | 21.700 | 22.500 | [1.375] | [1.485] | [1.762] | [1.773] | N | 2000 | 1947 | 1947 | 1947 |
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Standard errors in brackets; , , . |