变量

(1) ESG

(2) VOL

M_ESG

0.6694^***

(0.0063)

ESG

−7.1298^***

(0.4781)

Controls

YES

YES

_cons

0.0826

111.7737^***

(0.1769)

(8.9388)

Observations

16,629

16,629

R−squared

0.5599

0.7295

行业固定

YES

YES

年度固定

YES

YES