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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