Dear all,

i hope you are doing good in this period of Covid

in my work i have studied the following relationships:
  1. impact of financial constraints on CEO stock option using a threshold model
  2. impact of CEO stock option on Risk taking using quantile regression
  3. impact of financial constraints on risk taking using threshold model
Now i would study the mediating role of CEO stock option in the relationship between financial constraints and risk taking following The Baron and Kenny (1986) method.

following are the results:

Array Array


as shown in the tables above, there exist a Partial mediation. but as marked in yellow, the direct effect is found to be greater than the total effect. i get confused how to interpret this. i have find that they call this a "Inconsistent mediation". i am wondering how can i interpret this !! what is the role of the mediator here exactly !!


Kind regards
SEDKI