Table 8
Heterogeneity tests at the corporate level.
| OT |
PVT |
LF |
SM |
|
|---|---|---|---|---|
| (1) |
(2) |
(3) |
(4) |
|
| carbon1 | carbon1 | carbon1 | carbon1 | |
| AI | −0.0001*** | −0.0007*** | −0.0002*** | −0.0005*** |
| (0.000) | (0.000) | (0.000) | (0.000) | |
| CV | YES | YES | YES | YES |
| FE | YES | YES | YES | YES |
| N | 15206 | 15314 | 10875 | 19909 |
| R2 | 0.3090 | 0.3945 | 0.2735 | 0.3793 |
Note: *, **, and ***denote statistical significance at the 10%, 5%, and 1% levels, respectively. CV stands for “Control Variables.” The analysis results indicate significant differences among the groups.
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