Regression results of PCSE with fixed effects model
| Dependent variable: EDL | Model 1 | Model 2 | Model 3 | Model 4 |
|---|---|---|---|---|
| Variables | Coefficients | |||
| Intercept | 0.016** (0.007) | −0.088*** (0.028) | −2.479*** (0.571) | −2.915*** (0.723) |
| CCP | 0.507*** (0.018) | 0.446*** (0.021) | 0.403*** (0.020) | – |
| CO2E | – | – | – | −0.170*** (0.048) |
| CG | −0.024 (0.016) | −0.026 (0.016) | −0.025 (0.015) | −0.336 (0.327) |
| CCP*CG | – | 0.046*** (0.006) | 0.034*** (0.008) | – |
| CO2E *CG | – | – | – | 0.001** (0.000) |
| Reform | – | – | 0.305*** (0.015) | 0.379*** (0.055) |
| LV | – | – | 0.425*** (0.107) | 0.567*** (0.133) |
| Zscore | – | – | −0.103*** (0.024) | −0.200*** (0.043) |
| FP | – | – | −0.086*** (0.015) | −0.105*** (0.023) |
| CSZ | – | – | 0.231*** (0.062) | 0.353*** (0.077) |
| CR | – | – | 0.026** (0.012) | 0.058*** (0.015) |
| Hausman test χ2 | 9.983*** | 10.541*** | 25.600*** | 52.793*** |
| likelihood ratio F-test | 16.129*** | 15.675*** | 18.876*** | 17.150*** |
| Breusch-Pagan LM | 1507.795*** | 1461.561*** | 1505.396*** | 1330.127*** |
| Ramsey RESET test (F-statistic) | 1.904 | 2.204 | 2.593 | 2.691 |
| Model | Fixed effects model | Fixed effects model | Fixed effects model | Fixed effects model |
| Observations | 960 | 960 | 960 | 960 |
| R2 | 0.778 | 0.781 | 0.829 | 0.756 |
| Dependent variable: EDL | Model 1 | Model 2 | Model 3 | Model 4 |
|---|---|---|---|---|
| Variables | Coefficients | |||
| Intercept | 0.016** (0.007) | −0.088*** (0.028) | −2.479*** (0.571) | −2.915*** (0.723) |
| CCP | 0.507*** (0.018) | 0.446*** (0.021) | 0.403*** (0.020) | – |
| CO2E | – | – | – | −0.170*** (0.048) |
| CG | −0.024 (0.016) | −0.026 (0.016) | −0.025 (0.015) | −0.336 (0.327) |
| CCP*CG | – | 0.046*** (0.006) | 0.034*** (0.008) | – |
| CO2E *CG | – | – | – | 0.001** (0.000) |
| Reform | – | – | 0.305*** (0.015) | 0.379*** (0.055) |
| LV | – | – | 0.425*** (0.107) | 0.567*** (0.133) |
| Zscore | – | – | −0.103*** (0.024) | −0.200*** (0.043) |
| FP | – | – | −0.086*** (0.015) | −0.105*** (0.023) |
| CSZ | – | – | 0.231*** (0.062) | 0.353*** (0.077) |
| CR | – | – | 0.026** (0.012) | 0.058*** (0.015) |
| Hausman test | 9.983*** | 10.541*** | 25.600*** | 52.793*** |
| likelihood ratio | 16.129*** | 15.675*** | 18.876*** | 17.150*** |
| Breusch-Pagan LM | 1507.795*** | 1461.561*** | 1505.396*** | 1330.127*** |
| Ramsey RESET test ( | 1.904 | 2.204 | 2.593 | 2.691 |
| Model | Fixed effects model | Fixed effects model | Fixed effects model | Fixed effects model |
| Observations | 960 | 960 | 960 | 960 |
| 0.778 | 0.781 | 0.829 | 0.756 | |
Note(s): ***p < 0.01, **p < 0.05, *p < 0.1 and robust SE between parentheses
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