DID

PSM-DID

(1)

(2)

(3)

(4)

Variable

Ln_gapp

Ln_gapp

Ln_gapp

Ln_gapp

Low_carbon*time

0.150***

0.113***

0.153***

0.125***

(4.61)

(3.91)

(4.71)

(4.26)

cfo

−0.000

0.000

(−0.35)

(1.40)

Lev

0.003***

0.004***

(4.04)

(5.05)

Tobin

0.000

−0.000

(0.05)

(−0.25)

Btm

0.000

0.000

(0.66)

(1.19)

Size

0.236***

0.300***

(22.90)

(31.36)

Netprofit

−0.001**

0.000

(−2.35)

(1.06)

First

−0.003***

−0.002***

(−3.87)

(−3.26)

Age

0.033**

0.037**

(−2.20)

(−2.40)

Year

control

control

control

control

Company

control

control

control

control