变量

非国有企业

国有企业

低风险偏好

高风险偏好

(1)

(2)

(3)

(4)

ESG

ESG

ESG

ESG

DO

3.133^***

2.707^***

2.326^***

2.523^***

(0.4)

(0.322)

(0.298)

(0.502)

_cons

−20.356^***

−7.626

−14.005^***

−11.182

(6.215)

(6.522)

(4.968)

(13.085)

Controls

Yes

Yes

Yes

Yes

Year

Yes

Yes

Yes

Yes

Industry

Yes

Yes

Yes

Yes

N

4702

4286

6550

2437

R-squared

0.668

0.739

0.715

0.668