Model 1

Dependent variable CSDbreadtht+1

Standardized coefficients

T-statistic

CSPt

0.485***

4.16

GRI

0.083

0.834

ROIt

0.250***

2.761

LogSalest+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% (*)