Variable;MOEX;;LSE
"Hypothesis 4";"Hypothesis 5a";"Hypothesis 5b";"Hypothesis 4";"Hypothesis 5a";"Hypothesis 5b"
(Intercept);"0.083 (0.043)**";"0.10 (0.028)***";"0.05 (0.02)***";"0.125 (0.075)*";"0.09 (0.046)**";"–0.10 (0.098)*"
ROE;–;"0.027 (0.015)**";–;–;"0.04 (0.03)**";–
ROA;"0.068 (0.51)";–;"0.126 (0.058)**";"0.061 (0.076)";–;"0.62 (0.33)**"
Size;"0.015 (0.008)**";–;–;"0.017 (0.10)*";–;
FOG;–0.011(0.06)*;–;–;"–0.013 (0.07)**";–;
Negr;–;–;–;–;–;
Netr;–;–;–;–;–;
Envir;–;"–2.28 (0.65)***";"–1.12 (0.62)**";–;"–3.27 (1.54)***";"–13.82 (7.79)**"
Socialr;–;"–0.36 (0.96)";"–1.39 (0.79)**";–;"2.52 (1.42)**";"–5.55 (6.90)"
Humrights;–;"0.43 (1.73)";–;–;"–0.58 (0.47)";–
"Change in WC";"0.003 (0.011)**";–;–;–;–;
Leverage;"0.001 (0.002)";0.001(0.0007);"–0.002 (0.0007)***";"0.003 (0.002)";"0.06 (0.004)*";"0.03 (0.009)**"
ND/EBITDA;"–1.4e–04 (8.1e–05)**";–;"–7.1e–04 (5.9e–04)";"–0.002 (0.001)**";–;"0.04 (0.016)**"
EBITDA_m;–;–;–;–;–;–
"R
              2, %";11.79;9.45;20.89;10.31;13.57;8.72
F-test;3.28;3.01;6.52;2.85;4.55;2.77
p-value;0.049;0.081;0.017;0.091;0.0299;0.097