变量 | Heckman检验 | 滞后一期 | 高维固定 | 缩减样本 |
(1) | (2) | (3) | (4) | |
ESG | ESG | ESG | ESG | |
DO | 2.461*** |
| 2.672*** | 2.256*** |
| (0.266) |
| (0.25) | (0.478) |
IMR | 1.062** |
|
|
|
| (0.513) |
|
|
|
L.DO |
| 2.983*** |
|
|
|
| (0.313) |
|
|
_cons | −8.937 | 7.764 | −16.721*** | 19.842*** |
| (7.767) | (7.209) | (4.653) | (6.478) |
Controls | Yes | Yes | Yes | Yes |
Year | Yes | Yes | Yes | Yes |
Industry | Yes | Yes | Yes | Yes |
Year & Industry | - | - | Yes | - |
Year & Province | - | - | Yes | - |
N | 7673 | 7689 | 8988 | 5286 |
R-squared | 0.698 | 0.698 | 0.736 | 0.654 |