|
| 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 |