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Table 2 Maximum likelihood estimation of the absolute amount of family involvement and CSR investment

From: The self-centered philanthropist: family involvement and corporate social responsibility in private enterprises

  Model 1.1 Model 1.2 Model 1.3 Model 1.4
Charitable donation Pollution control investment Social security investment Training investment
B/S.E. B/S.E. B/S.E. B/S.E.
Gender (1 = male) − 0.069
(0.275)
1.601*
(0.797)
− 1.100**
(0.418)
0.278
(0.364)
Education (1 = University and above) 0.266
(0.199)
− 0.858
(0.531)
1.358***
(0.333)
0.730**
(0.262)
Political connection (1 = yes) 2.037***
(0.208)
1.227*
(0.556)
0.114
(0.326)
0.845**
(0.264)
Diversity (1 = yes) 0.779***
(0.208)
− 0.361
(0.571)
− 0.555
(0.357)
0.529*
(0.266)
Manufacturing (1 = yes) − 0.569**
(0.207)
4.445***
(0.519)
0.832**
(0.312)
0.158
(0.247)
Corporate history 0.089***
(0.021)
0.020
(0.058)
0.077*
(0.035)
0.007
(0.028)
Region (reference item: Eastern)
Central − 0.465*
(0.235)
− 1.186+
(0.611)
− 2.432***
(0.382)
− 0.505+
(0.300)
Western − 0.716**
(0.256)
0.225
(0.668)
− 1.165**
(0.396)
0.236
(0.311)
Number of employees 0.663***
(0.095)
2.535***
(0.254)
0.972***
(0.149)
1.478***
(0.122)
Sales 0.455***
(0.072)
0.518**
(0.187)
1.127***
(0.111)
0.687***
(0.092)
Sales margin 0.030***
(0.006)
0.063***
(0.016)
− 0.014
(0.012)
0.022**
(0.008)
Involvement of family ownership 0.784*
(0.360)
− 1.263
(0.860)
− 1.395**
(0.492)
0.008
(0.409)
Involvement of family management rights 0.728*
(0.300)
1.969*
(0.834)
− 1.886***
(0.554)
− 2.044***
(0.431)
Constant term − 1.535**
(0.568)
− 20.514***
(1.500)
− 2.933**
(0.902)
− 6.198***
(0.719)
Sample size 2563 2603 1947 2649
Interception number on the left 555 1676 634 882
− 2 Log Likelihood 13,035.16 8572.64 9584.33 12,641.36
  1. +p < 0.1, p < 0.05, p < 0.001, p < 0.001 (2) robust standard error in parentheses