(1)

(2)

(3)

ROA

ROA

ROA

NM

0.000

0.003^***

0.004^***

(0.001)

(0.001)

(0.001)

TG

0.003

0.027^*

0.045^**

(0.006)

(0.015)

(0.021)

ID

−0.043

−0.007

−0.013

(0.028)

(0.030)

(0.053)

CSR

0.009^***

(0.003)

LEV

−0.097^***

−0.221^***

−0.189^***

(0.013)

(0.043)

(0.039)

RG

0.044^***

0.039^***

0.033^***

(0.005)

(0.007)

(0.006)

AGE

0.000

0.014

0.017

(0.000)

(0.011)

(0.011)

NM ´ CSR

−0.000

(0.000)

TG ´ CSR

−0.002^**

(0.001)

ID ´ CSR

0.000

(0.002)

Cons

0.065^***

−0.136

−0.299^**

(0.025)

(0.112)

(0.134)

FIRM

NO

YES

YES

YEAR

YES

YES

YES

N

990

990

990

Adj R²

0.124

0.198

0.341