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Financial Innovation

Table 4 Mediation effects

From: Digital finance and renewable energy consumption: evidence from China

Variable

Loan mediation effect

Income mediation effect

(1) lnREC

(2) lnLOAN

(3)lnREC

(4) lnREC

(5) lnINCOME

(6) lnREC

lnGDF

1.385*** (0.159)

0.128*** (0.024)

1.109*** (0.159)

1.385*** (0.159)

0.157*** (0.011)

1.108*** (0.219)

lnLOAN

  

2.156*** (0.401)

   

lnINCOME

     

1.765* (0.968)

Controls (Same as Table3)

Yes

Yes

Yes

Yes

Yes

Yes

N

240

240

240

240

240

240

R2

0.425

0.884

0.488

0.425

0.904

0.433

Indirect effect

0.277*** (0.074)

  

0.277* (0.153)

  

Sobel test

19.96%

  

20%

  
  1. ***, **, and * denote significance at the 1%, 5%, and 10% levels, respectively
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