Robustness check: instrumental variable regression
| Variables | First stage | Second stage | |
|---|---|---|---|
| (1) | (2) | (3) | |
| Gplant | Ene | Osa | |
| Gplant | 0.0192* (0.0116) | 0.6814*** (0.2361) | |
| VGC | 0.0007*** (0.0000) | ||
| Controls | YES | YES | YES |
| Firm FE | YES | YES | YES |
| Year FE | YES | YES | YES |
| Observations | 18,059 | 18,059 | 18,059 |
| R2 | 0.8679 | 0.004 | 0.0087 |
| F-value for the first stage | 2265.88 | ||
| Kleibergen-Paap rk LM statistic | 457.222*** | 457.222*** | |
| Variables | First stage | Second stage | |
|---|---|---|---|
| (1) | (2) | (3) | |
| Gplant | Ene | Osa | |
| Gplant | 0.0192 | 0.6814 | |
| 0.0007 | |||
| Controls | |||
| Firm | |||
| Year | |||
| Observations | 18,059 | 18,059 | 18,059 |
| 0.8679 | 0.004 | 0.0087 | |
| F-value for the first stage | 2265.88 | ||
| Kleibergen-Paap rk | 457.222 | 457.222 | |
Standard errors at the firm-level cluster in parentheses. *p < 0.10, **p < 0.05, ***p < 0.01
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.