Reports by Internet and Newspapers

return

Reports by Newspapers

return

Reports by Internet

return

CSR*CSR

00366***

(3.59)

0.0394***

(3.85)

0.0363***

(3.56)

CSR

1.1834**

(2.65)

0.0012

(−1.45)

0.4064***

(3.96)

−0.0013*

(−1.65)

0.7769**

(2.04)

−0.00117

(−1.41)

median

0.0001***

(9.71)

0.0001**

(2.19)

0.00007***

(10.81)

leverage

36.0542

(1.48)

0.0558***

(3.58)

8.8148

(1.57)

0.0569***

(3.64)

27.2393

(1.31)

0.0559***

(3.59)

size

89.7075***

(6.65)

−0.3273***

(−38.11)

22.0041***

(7.10)

−0.3234***

(−37.52)

67.7033***

(5.89)

−0.3272***

(−38.15)

pbr

−0.0774

(−0.02)

−0.0007

(−0.22)

0.0107

(0.01)

−0.0007

(−0.23)

−0.0881

(−0.02)

−0.0007

(−0.22)

beta

86.5049***

(3.33)

−0.0121

(−0.74)

24.8963***

(4.17)

−0.0087

(−0.53)

61.6086**

(2.78)

−0.0117

(−0.72)

growth

−0.0077

(−0.04)

0.0001

(0.68)

0.0004

(0.01)

0.0001

(0.67)

−0.0082

(−0.05)

0.0001

(0.68)

Firm fixed

Y

Y

Y

Y

Y

Y

Year fixed

Y

Y

Y

Y

Y

Y

Adj_R²

0.8098

0.4375

0.8563

0.4334

0.7673

0.4385