Financial Innovation

Table 5 Results of the robustness test

From: Does the carbon emission trading pilot policy promote green innovation cooperation? Evidence from a quasi-natural experiment in China

	(1)	(2)	(3)	(4)	(5)	(6)
Policy	30.741**	25.951**	2.808**	23.576**	2.866***	14.546**
Pd	0.742	1.826**	0.283	3.708	0.389***	1.747**
Pgdp	− 19.606**	− 16.243***	− 3.274**	− 21.764***	− 1.772**	− 13.634***
Hum	− 19.606**	− 9.860*	− 2.096	− 13.905	− 0.829	− 3.573
Infr	1.844	− 1.206	− 0.945	3.105	0.255	3.145
Gov	0.915	1.396	− 0.066	− 0.363	− 0.143	− 0.282
Cons	216.682**	179.885**	0.000	0.000	0.000	0.000
Year	Yes	Yes	Yes	Yes	Yes	Yes
City	Yes	Yes	Yes	Yes	Yes	Yes
R-squared	0.039	0.032	0.188	0.051	0.142	0.033
N	3288	3288	1074	1074	2040	2040

*, **, ***Significance levels of 10%,5% and 1%, respectively. Carbon emission trading pilot policy (Policy), Population density (Pd), The level of economic development (Pgdp), Human capital (Hum), Infrastructure (Infr), Government expenditure on science and technology (Gov)

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