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Table 6 Financial performance of the 34 and 15 shipping firms by including freight ratio

From: Financial performance of shipping firms that increase LNG carriers and the support of eco-innovation

Model 34 Firms 15 Firms
ROA ROE ER ROA ROE ER
Intercept 0.0215
(0.337)
−0.0632
(−0.238)
0.1370
(1.340)
0.3082***
(3.471)
−1.3803
(−1.454)
0.2153***
(3.446)
‘lngratio’ 0.0063*
(1.851)
0.0796**
(2.371)
−0.0312***
(−2.789)
−0.4571***
(−6.333)
0.2135
(0.421)
−0.2060***
(−6.048)
Liquidity −0.0037
(−1.463)
−0.0139
(−0.492)
0.0021
(0.523)
−0.0852***
(−3.673)
− 0.1788
(−0.607)
0.0005
(0.047)
gasoil −0.0000
(−0.001)
0.0448
(0.187)
0.0054
(0.057)
0.2251***
(4.321)
1.2964
(1.341)
−0.0073
(−0.185)
fratio −0.0004
(−0.008)
0.0992
(0.768)
−0.0162
(−0.208)
−0.0642
(−0.253)
− 0.4021
(− 0.750)
0.0023
(0.130)
R2 0.024 0.016 0.071 0.793 0.394 0.867
Industry fixed effect Yes Yes Yes Yes Yes Yes
  1. Notes: 1 ***, **, and * denote statistical significance at the 1%, 5%, and 10% levels respectively. t-values are in parentheses
  2. Source: Authors