Model 2

Dependent variable CSP_t+1

Standardized coefficients

T-statistic

CSD_t

0.288***

2.834

GRI

0.222***

2.508

ROI_t

−0.053

−0.634

LogSales_t+1

0.483***

5.329

Country

−0.113

−1.308

Model summary

R-Square

Adjusted R-Square

0.525

0.492

ANOVA

F

15,693***

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