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\ p None B a = c @ = Z ?N*8 X" 1 Arial1 Arial1 Arial1 Arial1 Arial1 Arial1 Arial General ` Table_6 T Dependent Variable
ROE
ROA# GROWTH RANKING PRIOR 2 YEARS Method OLS Dynamic OLS
Fixed-Effects GMM-SYS Model (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) OVERALL EMPLOYEE SATISFACTION+ 0.055***(3.41)+ 0.057***(3.36)+ 0.086***(2.94)* 0.105**(2.26)* 0.123**(2.14)) 0.13**(2.21) 0.007 (0.74) 0.008 (0.48)) 6.542*(1.64)) 8.039*(1.82), 23.113***(3.48)+ 28.009**(2.26) FIRM SIZE- -0.027***(-5.54)- -0.026***(-5.12), -0.036**(-2.25), -0.044**(-2.51)- -0.013***(-7.01)- -0.013***(-6.75)- -0.046***(-8.56)- -0.029***(-4.21) 0.248 (0.23) -1.076 (-0.90), 10.575***(2.98), 13.910***(5.22) FINANCIAL_LEVERAGE- -0.075***(-3.41)- -0.075***(-3.31)- -0.079***(-4.81), -0.099**(-2.12) 0.001 (0.11) 0.002 (0.43), -0.010**(-2.00) 0.001 (0.06) -4.101 (-1.36) -5.596 (-1.61) -3.648 (-0.97)+ -9.118*(-1.69) BRAZILIAN CAPITAL 0.025 (1.53) 0.025 (1.43) 0.010 (0.45) 0.031 (1.29), -0.012**(-1.97)+ -0.013**(2.04)- -0.020***(-2.73) -0.014 (-1.48) 2.152 (0.56) 3.349 (0.81) 2.103 (0.42)) 9.005*(1.95) SOUTHEAST REGION+ -0.026*(-1.80) -0.025 (-1.56) -0.024 (-1.09) -0.017 (-0.74) 0.001 (0.01) 0.001 (0.04) -0.002 (-0.25) 0.09 (1.12) -2.480 (-0.66) -3.383 (-0.77) -4.685 (-0.96)+ -8.340*(-1.83); LAGGED_PERFORMANCE (ROEt-1 or ROAt-1)' 0.004
(0.19)= 0.095**
(2.02)) -0.021
(-0.95)' 0.045
(1.00)<