Institute share-holding, climate risk and firms’ digital transformation
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| IS = 1 | IS = 1 | IS = 0 | IS = 0 | |
| Variable | Digital1 | Digital2 | Digital1 | Digital2 |
| CR | −0.071* (−1.85) | −0.020 (−1.42) | −0.162*** (−4.43) | −0.043*** (−4.21) |
| Controls | YES | YES | YES | YES |
| Year FE | YES | YES | YES | YES |
| Industry FE | YES | YES | YES | YES |
| Observations | 15,947 | 15,947 | 16,245 | 16,245 |
| R-squared | 0.464 | 0.273 | 0.445 | 0.263 |
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Variable | Digital1 | Digital2 | Digital1 | Digital2 |
| −0.071 | −0.020 (−1.42) | −0.162 | −0.043 | |
| Controls | ||||
| Year | ||||
| Industry | ||||
| Observations | 15,947 | 15,947 | 16,245 | 16,245 |
| R-squared | 0.464 | 0.273 | 0.445 | 0.263 |
This table reports the relationship between climate risk and enterprises’ digital transformation for the firms of high or low level of institute share-holding. Columns (1) and (2) report regression results of climate risk on enterprises’ digital transformation of high level of institute share-holding firms, while Columns (3) and (4) show regression results of climate risk on enterprises’ digital transformation of low level of institute share-holding firms. *, ** and *** denote significance at the 10, 5 and 1% levels, respectively
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