Baseline the Matching of Social Fairness and Pay Gap to the Return of Company Performance. Definitions of variables are listed in Table 1. T-statistics are displayed in parentheses | ||
| ROA | ROA |
Lnbwd | 0.00928*** |
|
| (4.27) |
|
PSM | 0.0673** |
|
| (2.08) |
|
Lnbwd * PSM | −0.00530** |
|
| (−1.85) |
|
Lnnetwd |
| 0.0101*** |
|
| (3.75) |
NetPSM |
| 0.0757** |
|
| (2.41) |
Lnnetbwd * NetPSM |
| −0.00592** |
|
| (−2.18) |
Size | 0.0156*** | 0.0149*** |
| (5.36) | (4.90) |
Risk | −0.00107 | −0.00108 |
| (−1.57) | (−1.56) |
Lev | −0.0650*** | −0.0610*** |
| (−6.12) | (−5.55) |
Con | 0.0124 | 0.0136 |
| (1.28) | (1.43) |
Dual | 0.00438* | 0.00388* |
| (1.78) | (1.67) |
SGROW | 0.0000513** | 0.0000507** |
| (2.56) | (2.54) |
Pb | 0.00292** | 0.00273* |
| (2.06) | (1.94) |
_cons | −0.323*** | −0.318*** |
| (−4.26) | (−4.00) |
N | 7158 | 7193 |