Table 6 Results of heterogeneity test
From: The impact of carbon emission trading policy on firms’ green innovation in China
Variable | (9) | (10) | (11) | (12) | (13) | (14) |
|---|---|---|---|---|---|---|
Gpatent | Gpatent | Gpatent | Gpatent | Gpatent | Gpatent | |
Eastern area | Central and Western area | State-owned | Privates | High subsidy | Low subsidy | |
(a) | ||||||
Treat × Time | 0.188*** (0.0499) | − 0.0742 (0.0661) | 0.120** (0.0514) | 0.0938 (0.0616) | 0.0856 (0.0584) | 0.167*** (0.0551) |
Constant | − 5.640*** (0.4000) | − 4.286*** (0.5394) | − 6.702*** (0.5448) | − 5.030*** (0.3672) | − 5.128*** (0.4341) | − 5.135*** (0.4221) |
Control | Yes | Yes | Yes | Yes | Yes | Yes |
Firm | Yes | Yes | Yes | Yes | Yes | Yes |
Year | Yes | Yes | Yes | Yes | Yes | Yes |
Observations | 16,745 | 7949 | 9320 | 15,374 | 11,142 | 11,548 |
Adjust R2 | 0.737 | 0.674 | 0.771 | 0.674 | 0.705 | 0.725 |
Variable | (15) | (16) | (17) | (18) |
|---|---|---|---|---|
Gpatent | Gpatent | Gpatent | Gpatent | |
High Tobin Q | Low Tobin Q | High financing constraints | Low financing constraints | |
(b) | ||||
Treat × Time | 0.138*** (0.0503) | 0.0938 (0.0616) | − 0.0237 (0.0881) | 0.0890* (0.0466) |
Constant | − 6.702*** (0.5454) | − 5.030*** (0.3674) | − 5.528*** (0.3871) | − 6.088*** (0.5145) |
Control | Yes | Yes | Yes | Yes |
Firm | Yes | Yes | Yes | Yes |
Year | Yes | Yes | Yes | Yes |
Observations | 9320 | 15,374 | 9499 | 10,694 |
Adjust R2 | 0.771 | 0.674 | 0.572 | 0.766 |
Variable | (19) | (20) | (21) | (22) |
|---|---|---|---|---|
Gpatent | Gpatent | Gpatent | Gpatent | |
State-owned High subsidy | State-owned Low subsidy | Privates High subsidy | Privates Low subsidy | |
(c) | ||||
Treat × Time | − 0.00257 (0.0744) | 0.192*** (0.0707) | 0.112 (0.0976) | 0.0189 (0.0827) |
Constant | − 6.805*** (0.9647) | − 7.272*** (0.8559) | − 5.751*** (0.6175) | − 4.931*** (0.5213) |
Control | Yes | Yes | Yes | Yes |
Firm | Yes | Yes | Yes | Yes |
Year | Yes | Yes | Yes | Yes |
Observations | 3872 | 5191 | 6589 | 5690 |
Adjust R2 | 0.779 | 0.784 | 0.658 | 0.641 |