(1)

(2)

(3)

(4)

Attention 0

Attention 1

Inst 0

Inst 1

VARIABLES

Opinion

Opinion

Opinion

Opinion

ESG

0.088^*

0.219^***

0.128^***

0.221^***

(0.080)

(0.000)

(0.002)

(0.000)

Constant

1.141

−3.496^**

0.487

−5.630^***

(0.562)

(0.035)

(0.757)

(0.006)

Observations

3,364

4,880

4,238

4,173

Control

Yes

Yes

Yes

Yes

year

Yes

Yes

Yes

Yes

industry

Yes

Yes

Yes

Yes