| (1) | (2) |
变量 | ESG | ESG |
CAPM | 0.00053** | 0.00217*** |
(2.21) | (8.75) | |
Size |
| −0.00495*** |
| (−28.08) | |
DFL |
| 0.01019*** |
| (9.12) | |
ROA |
| 0.02310*** |
| (6.16) | |
Cashflow |
| −0.01584*** |
| (−5.75) | |
Growth |
| −0.00029 |
| (−0.63) | |
Markup |
| −0.00542*** |
| (−8.99) | |
Age |
| −0.02489*** |
| (−44.87) | |
Own |
| −0.00000 |
| (−0.19) | |
MSHARE |
| 0.00002* |
| (1.65) | |
Duality |
| 0.00010 |
| (0.28) | |
Boards |
| 0.00677*** |
| (7.68) | |
_cons | 0.08776*** | 0.24819*** |
(87.42) | (64.92) | |
R2 | 0.100 | 0.184 |
N | 17,970 | 17,969 |