(1)

变量

彭博ESG

CAPM

0.00256^***

(5.92)

Size

0.00788^***

(16.69)

DFL

0.02925^***

(9.39)

ROA

0.08756^***

(6.95)

Cashflow

−0.00490

(−0.62)

Growth

−0.00457^***

(−3.75)

Markup

−0.00523^***

(−3.51)

Age

−0.00221

(−1.57)

Own

−0.00016^***

(−5.31)

MSHARE

0.00028^***

(9.94)

Duality

−0.00011

(−0.12)

Boards

−0.01060^***

(−4.60)

_cons

−0.01087

(−1.03)

R²

0.191

N

12,419