Model 1

Dependent variable CSDbreadth_t+1

Standardized coefficients

T-statistic

CSP_t

0.485***

4.16

GRI

0.083

0.834

ROI_t

0.250***

2.761

LogSales_t+1

0.084

0.785

Country

0.268***

2.943

Model summary

R-Square

Adjusted R-Square

0.427

0.386

ANOVA

F

10,566***

Sign. level: 1% (***); 5% (**); 10% (*)