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

Financial Innovation

Table 6 Results of the mediation effect test

Dv	Mv	Proportion of indirect effect	Category	Observed coefficient	Standard error	95% confidence interval
Dv	Mv	Proportion of indirect effect	Category	Observed coefficient	Standard error	lower limit	upper limit
Egic	Isu	33.46%	Indirect effect	1.667	0.532	0.874	3.062
	Isu	33.46%	Direct effect	3.315	1.027	1.448	5.458
	Dfc	4.59%	Indirect effect	0.191	0.104	0.025	0.416
	Dfc	4.59%	Direct effect	3.974	1.046	2.064	6.144
Agic	Isu	35.84%	Indirect effect	8.201	3.103	3.692	16.510
	Isu	35.84%	Direct effect	14.681	6.186	4.915	28.373
	Dfc	3.86%	Indirect effect	0.709	0.388	0.075	1.615
	Dfc	3.86%	Direct effect	17.660	6.732	5.874	32.768

Inter-city green innovation cooperation (Egic), Intra-city green innovation cooperation (Agic), Industrial structure upgrading (Isu), Digital financial coverage (Dfc)