| VARIABLES | (1) |
| ESG | |
| Digital | 0.00314** |
|
| (0.00138) |
| JR | −0.219*** |
|
| (0.0411) |
| HMP | 0.233*** |
|
| (0.0650) |
| Ln_scale | 0.153*** |
|
| (0.0128) |
| DT | 0.00128*** |
|
| (0.000425) |
| NOCB | −0.00244 |
|
| (0.00162) |
| NOP | 0.0601 |
|
| (0.0553) |
| Bread | 0.000608 |
|
| (0.000914) |
| Constant | 1.544*** |
|
| (0.438) |
| Year | YES |
| Industry | YES |