Table 3 The biggest likelihood estimate of family involvement and intensity of CSR input
Model 2.1 | Model 2.2 | Model 2.3 | Model 2.4 | |
|---|---|---|---|---|
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) | 0.005 (0.122) | 0.565+ (0.305) | − 0.530* (0.220) | 0.075 (0.160) |
Education (1 = University and above) | 0.158+ (0.088) | − 0.393+ (0.202) | 0.769*** (0.167) | 0.310** (0.111) |
Political connection (1 = yes) | 0.955*** (0.088) | 0.516* (0.210) | 0.025 (0.161) | 0.410*** (0.110) |
Diversity (1 = yes) | 0.448*** (0.094) | − 0.115 (0.213) | − 0.197 (0.175) | 0.264* (0.115) |
Manufacturing (1 = yes) | − 0.386*** (0.089) | 1.591*** (0.198) | 0.373* (0.155) | 0.003 (0.103) |
Corporate history | 0.050*** (0.010) | 0.008 (0.022) | 0.036* (0.017) | 0.006 (0.012) |
Region (reference item: Eastern) | ||||
Central | − 0.325** (0.103) | − 0.392+ (0.231) | − 1.329*** (0.190) | − 0.159 (0.127) |
Western | − 0.358** (0.114) | 0.205 (0.259) | − 0.760*** (0.199) | 0.112 (0.134) |
Number of employees | 0.356*** (0.041) | 0.983*** (0.098) | 0.596*** (0.073) | 0.667*** (0.051) |
Sales | − 0.363*** (0.032) | − 0.109 (0.071) | − 0.062 (0.057) | − 0.229*** (0.040) |
Sales margin | 0.016*** (0.003) | 0.026*** (0.007) | − 0.008 (0.007) | 0.014** (0.004) |
Involvement of Family ownership | 0.465** (0.148) | − 0.389 (0.320) | − 0.765** (0.249) | 0.090 (0.172) |
Involvement of family management rights | 0.232+ (0.140) | 0.651* (0.321) | − 0.962*** (0.279) | − 0.878*** (0.186) |
Constant term | 1.490*** (0.257) | − 6.092*** (0.558) | 1.348** (0.469) | − 0.327 (0.314) |
Sample size | 2561 | 2602 | 1946 | 2649 |
Interception number on the left | 555 | 1676 | 634 | 882 |
− 2 Log Likelihood | 9587.51 | 6711.40 | 7750.30 | 9562.56 |