Wireless Communications and Mobile Computing / 2022 / Article / Tab 6 / Research Article
Did the Inclusion of China’s A-Shares in the MSCI Index Improve the Information Content of Listed Firms? Analysis Based on Stock Price Synchronisation and Environmental Social Governance Table 6 Results of DID regression analysis.
Variables (1) (2) (3) ESG ESG ESG mkex 1.2992 1.3828 1.9874 (3.18) (3.36) (4.81) After 1.4596 1.4847 3.6708 (14.21) (14.33) (16.54) 1.6833 1.6640 1.6851 (8.92) (8.83) (9.05) Size 1.4470 1.5376 1.1245 (15.96) (16.38) (11.20) Lev –3.1456 –3.0294 –1.7697 (–7.07) (–6.66) (–3.84) BM –0.2479 –0.2594 –0.2271 (–5.28) (–5.30) (–4.39) SOE 0.6776 0.7368 1.1334 (3.09) (3.28) (5.03) Cashflow 0.4116 0.1863 –0.8593 (0.61) (0.28) (–1.28) Top1 0.1031 0.5512 0.9362 (0.18) (0.95) (1.61) ListAge 1.6222 1.6434 0.7693 (10.54) (10.44) (4.44) Big4 1.8195 1.7964 1.7073 (6.42) (6.31) (6.05) ROA –3.0292 –2.9743 –0.7387 (–3.21) (–3.14) (–0.77) Constant –16.2355 –19.5948 –10.3482 (-8.54) (–8.07) (–4.05) Industry No Yes Yes Year No No Yes Observations 7,925 7,925 7,925
: statistics are in parentheses.
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