| 解释变量 | 被解释变量 | ||
| 总体 | 新能源行业 | 传统能源行业 | |
| FL1. | 0.063** | 0.028* | 0.082*** |
| (0.034) | (0.074) | (0.001) | |
| ifr | −0.062 | −0.217* | −0.043** |
| (0.176) | (0.094) | (0.015) | |
| efr | −0.069* | −0.029** | −0.034** |
| (0.077) | (0.021) | (0.026) | |
| ccfr | 0.182* | 0.033** | 0.011*** |
| (0.074) | (0.045) | (0.004) | |
| alr | −0.112* | −0.044** | −0.058*** |
| (0.063) | (0.011) | (0.005) | |
| fcf | −0.238** | −0.0043 | −0.009 |
| (0.039) | (0.616) | (0.495) | |
| size | 0.434** | 0.157*** | 0.206*** |
| (0.04) | (0.008) | (0.006) | |
| AR(2) | 0.132 | 0.253 | 0.617 |
| HansenTest | 0.908 | 0.101 | 0.695 |