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Table 5 Effect of Corporate Governance on the Environmental Reporting Score

From: The effects of corporate governance on environmental sustainability reporting: empirical evidence from South Asian countries

Variable Pred. Sign Dependent Variable: ENVSCORE
Coefficient t-stat.
Intercept ? 2.1153 4.36 ***
FOROWN + 0.5395 2.21 **
INSTOWN + 0.8353 2.58 **
DIROWN −22.6636 −2.08 **
FAMOWN −0.0852 −0.81  
BDIND + 0.3529 4.10 ***
BDFEM +/− −0.0105 − 0.16  
BDSIZE + 0.4017 2.96 ***
SUSCOMM +/− 0.0226 0.38  
GRI_LEVEL +/− 0.1282 2.66 ***
FSIZE + 0.0187 0.96  
M/B + 0.1028 3.61 ***
ROA + 0.5263 1.78 *
LEV −0.1020 −2.12 **
∑Year Dummy ? Not Included
∑Country Dummy ? Included
Adj. R2 0.2981
F-value 10.20 ***
No. of Obs. 326
  1. Note: Refer to Table 3 for variable definitions
  2. Results for dummy variables are not reported
  3. ***, **, and * indicate significance at the 1, 5 and 10% levels, respectively (two-tailed)