(1)

(2)

变量名

PAT

PAT

ESGP

0.040***

0.055***

(7.32)

(8.06)

Media

0.051

0.088

(0.53)

(0.75)

ESGM

0.003

0.006

(0.66)

(0.94)

ESGM2

−0.001**

−0.001**

(−2.36)

(−2.32)

SIZE

0.369***

0.409***

(13.09)

(13.06)

bod

−0.136

0.026

(−1.02)

(0.18)

Growth

0.325***

0.107

(3.74)

(1.22)

Lev

−1.388***

−0.369**

(−8.40)

(−2.08)

Age

−1.025***

−1.096***

(−8.24)

(−7.16)

行业效应

Yes

Yes

时间效应

Yes

Yes

常数项

−2.186***

−4.274***

(−3.00)

(−4.90)

观测值

5118

3513

R-squared

0.116

0.171