Heterogeneity estimation results
| (1) | (2) | (3) | |
|---|---|---|---|
| Variables | Low-intensity areas (SO2) | Medium-intensity areas (SO2) | High-intensity areas (SO2) |
| GPP | −0.0849 (0.0552) | −0.1243*** (0.0456) | −0.0730* (0.0442) |
| Constant | 7.5278*** (1.0647) | 15.4552*** (1.8031) | 12.7101*** (2.0026) |
| Observations | 71,326 | 70,704 | 71,496 |
| Adjusted R2 | 0.7859 | 0.7625 | 0.7930 |
| Controls | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes |
| Firm FE | Yes | Yes | Yes |
| (1) | (2) | (3) | |
|---|---|---|---|
| Variables | Low-intensity areas (SO2) | Medium-intensity areas (SO2) | High-intensity areas (SO2) |
| GPP | −0.0849 (0.0552) | −0.1243 | −0.0730 |
| Constant | 7.5278 | 15.4552 | 12.7101 |
| Observations | 71,326 | 70,704 | 71,496 |
| Adjusted | 0.7859 | 0.7625 | 0.7930 |
| Controls | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes |
| Firm FE | 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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