The results of replacing variables and considering other factors
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Variables | Pollu_ gas | SO2_EE | SO2 | SO2 |
| GPP | −0.0973*** (0.0257) | 0.0519*** (0.0160) | −0.1040*** (0.0319) | −0.0794*** (0.0250) |
| Constant | 6.2110*** (0.6570) | −1.1883*** (0.2555) | 11.4194*** (0.6747) | 12.2242*** (0.8058) |
| Observations | 213,682 | 214,466 | 215,116 | 215,116 |
| Adjusted R2 | 0.8731 | 0.6626 | 0.7781 | 0.7794 |
| Controls | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | No |
| Firm FE | Yes | Yes | Yes | Yes |
| Ind × year FE | No | No | No | Yes |
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Variables | Pollu_ gas | SO2_EE | SO2 | SO2 |
| GPP | −0.0973 | 0.0519 | −0.1040 | −0.0794 |
| Constant | 6.2110 | −1.1883 | 11.4194 | 12.2242 |
| Observations | 213,682 | 214,466 | 215,116 | 215,116 |
| Adjusted | 0.8731 | 0.6626 | 0.7781 | 0.7794 |
| Controls | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | No |
| Firm FE | Yes | Yes | Yes | Yes |
| Ind × year FE | No | No | No | Yes |
*, **and ***, respectively, indicate that the significance is 10, 5 and 1%; the values in brackets are robust standard errors for clustering to industry-year
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