Mechanism analysis: technological innovation
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Variables | Patent | Invent_patent | Utility_patent | Green_patent |
| GPP | 0.0917*** (0.0312) | 0.0451*** (0.0166) | 0.0865*** (0.0287) | 0.0136** (0.0068) |
| Constant | −0.6935*** (0.1464) | −0.4878*** (0.1135) | −0.4975*** (0.1096) | −0.1171*** (0.0361) |
| Observations | 215,741 | 215,741 | 215,741 | 215,741 |
| Adjusted R2 | 0.4766 | 0.4221 | 0.4572 | 0.2592 |
| Controls | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | Yes |
| Firm FE | Yes | Yes | Yes | Yes |
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Variables | Patent | Invent_patent | Utility_patent | Green_patent |
| GPP | 0.0917 | 0.0451 | 0.0865 | 0.0136 |
| Constant | −0.6935 | −0.4878 | −0.4975 | −0.1171 |
| Observations | 215,741 | 215,741 | 215,741 | 215,741 |
| Adjusted | 0.4766 | 0.4221 | 0.4572 | 0.2592 |
| Controls | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | Yes |
| Firm FE | Yes | Yes | Yes | 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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