Heterogeneity analysis: degree of pollution in the industries
| Variables | Heavily polluting industries | Nonheavily polluting industries | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Ene | Osa | Ene | Osa | |
| Gplant | 0.0095 (0.0202) | 0.3911 (0.4164) | 0.0241*** (0.0092) | 0.8215*** (0.1869) |
| Constant | 0.5275 (0.6472) | 10.1390 (12.5788) | 0.8517*** (0.1831) | 13.4539*** (3.5701) |
| Controls | YES | YES | YES | YES |
| Firm FE | YES | YES | YES | YES |
| Year FE | YES | YES | YES | YES |
| N | 3170 | 3170 | 23458 | 23458 |
| R2 | 0.8448 | 0.8526 | 0.8435 | 0.8572 |
| Variables | Heavily polluting industries | Nonheavily polluting industries | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Ene | Osa | Ene | Osa | |
| Gplant | 0.0095 (0.0202) | 0.3911 (0.4164) | 0.0241 | 0.8215 |
| Constant | 0.5275 (0.6472) | 10.1390 (12.5788) | 0.8517 | 13.4539 |
| Controls | ||||
| Firm | ||||
| Year | ||||
| 3170 | 3170 | 23458 | 23458 | |
| 0.8448 | 0.8526 | 0.8435 | 0.8572 | |
Standard errors at the firm-level cluster in parentheses. *p < 0.10, **p < 0.05, ***p < 0.01
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