| 变量 | (1) | (2) | (3) | (4) | (5) | (6) |
| TobinQ | TobinQ | TobinQ | TobinQ | TobinQ | TobinQ | |
| ESG |
|
| 0.0096*** | 0.0173*** | 0.0154*** | 0.0202*** |
|
|
|
| (3.03) | (5.65) | (5.41) | (6.76) |
| INVH | 1.2656*** | 1.3886*** | 1.3389*** | 1.4272*** |
|
|
|
| (13.12) | (14.89) | (13.54) | (14.99) |
|
|
| ESG × INVH |
|
| 0.0436*** | 0.0268** |
|
|
|
|
|
| (3.87) | (2.49) |
|
|
| INVHPreresi |
|
|
|
| 6.2053*** |
|
|
|
|
|
|
| (28.69) |
|
| ESG × INVHPreresi |
|
|
|
| 0.1547*** |
|
|
|
|
|
|
| (5.45) |
|
| INVHPresenti |
|
|
|
|
| 0.0070 |
|
|
|
|
|
|
| (0.01) |
| ESG × INVHPresenti |
|
|
|
|
| −0.0570 |
|
|
|
|
|
|
| (−0.57) |
| Cons | 1.4782*** | 15.3875*** | 1.2249*** | 15.3257*** | 14.2946*** | 15.1727*** |
|
| (29.62) | (22.63) | (15.34) | (22.53) | (21.73) | (22.04) |
| N | 8725 | 8725 | 8725 | 8725 | 8725 | 8725 |
| R-squared | 0.733 | 0.757 | 0.734 | 0.758 | 0.776 | 0.751 |
| Controls | NO | YES | NO | YES | YES | YES |
| Year | YES | YES | YES | YES | YES | YES |
| Firm | YES | YES | YES | YES | YES | YES |