| shareholder responsibility | employee responsibility | supplier and customer and consumer rights responsibility | environmental responsibility | social responsibility |
CSR*CSR | 0.0989*** (9.67) | −0.0722** (−2.13) | 0.1564*** (5.51) | 0.0290* (1.75) | 0.0239** (2.68) |
CSR | −0.0231*** (−9.26) | 0.0199*** (4.17) | −0.0239*** (−5.20) | −0.0054 (−1.63) | −0.0017 (−1.27) |
leverage | 0.0234 (1.16) | 0.0571*** (3.68) | 0.0404** (2.02) | 0.0411** (2.04) | 0.0175 (1.38) |
size | −0.2481*** (−35.20) | −0.3221*** (−37.63) | −0.2496*** (−35.26) | −0.2468*** (−34.91) | −0.0956*** (−23.96) |
pbr | −0.0009 (−0.23) | −0.0007 (−0.24) | −0.0009 (−0.24) | −0.0009 (−0.24) | −0.0017 (−0.48) |
beta | −0.3574*** (−17.92) | −0.0072 (−0.44) | −0.3530*** (−17.65) | −0.3546*** (−17.71) | −0.3301*** (−21.61) |
growth | 0.0002 (0.94) | 0.0001 (0.78) | 0.0001 (0.79) | 0.0001 (0.79) | 0.0001 (0.88) |
Firm fixed | Y | Y | Y | Y | Y |
Year fixed | Y | Y | Y | Y | Y |
Adj_R2 | 0.0553 | 0.4325 | 0.0503 | 0.0482 | 0.0642 |