|
| (1) | (2) |
| 变量 | ESG | ESG |
| CAPM | 0.00047*** | 0.00028** |
| (3.59) | (2.08) | |
| Size |
| 0.00318*** |
|
| (11.68) | |
| DFL |
| −0.00287** |
|
| (−2.57) | |
| ROA |
| −0.00287 |
|
| (−1.20) | |
| Cashflow |
| 0.00796*** |
|
| (4.21) | |
| Growth |
| −0.00091*** |
|
| (−3.47) | |
| Markup |
| −0.00011 |
|
| (−0.13) | |
| Age |
| 0.00587*** |
|
| (3.07) | |
| Own |
| −0.00008*** |
|
| (−4.67) | |
| MSHARE |
| 0.00002 |
|
| (1.18) | |
| Duality |
| −0.00015 |
|
| (−0.53) | |
| Boards |
| 0.00116 |
|
| (1.18) | |
| _cons | 0.11439*** | 0.03243*** |
| (180.08) | (4.23) | |
| COMPANY | YES | YES |
| YEAR | YES | YES |
| R2 | 0.663 | 0.667 |
| N | 19,767 | 19,766 |