Results of the 2SLS procedure (payments/gifts)
| OLS | 2-SLS | |||
|---|---|---|---|---|
| Payments/Gifts | Environmental regulations | |||
| Medium | 0.0158 | (0.351) | −0.126* | (0.027) |
| Small | 0.0284 | (0.085) | −0.259*** | (0.000) |
| Non-manufacturing | −0.00322 | (0.805) | −0.195*** | (0.000) |
| Public Expenditures (Environment) | 0.135*** | (0.000) | 0.236*** | (0.000) |
| Financial Exposure | 0.0827*** | (0.000) | 0.207*** | (0.000) |
| CO2 Monitoring | −0.00368 | (0.862) | 0.317*** | (0.000) |
| Average amount paid | −0.0287*** | (0.000) | ||
| Payments/Gifts | 1.155*** | (0.000) | ||
| Constant | 0.235*** | (0.000) | 0.144*** | (0.000) |
| Country FE | Yes | Yes | ||
| Observations | 4,366 | 4,366 | ||
| R2 | 0.14 | |||
| F | 85.10 | |||
| df_m | 8 | 8 | ||
| df_r | 4,357 | |||
| OLS | 2-SLS | |||
|---|---|---|---|---|
| Payments/Gifts | Environmental regulations | |||
| Medium | 0.0158 | (0.351) | −0.126* | (0.027) |
| Small | 0.0284 | (0.085) | −0.259*** | (0.000) |
| Non-manufacturing | −0.00322 | (0.805) | −0.195*** | (0.000) |
| Public Expenditures (Environment) | 0.135*** | (0.000) | 0.236*** | (0.000) |
| Financial Exposure | 0.0827*** | (0.000) | 0.207*** | (0.000) |
| CO2 Monitoring | −0.00368 | (0.862) | 0.317*** | (0.000) |
| Average amount paid | −0.0287*** | (0.000) | ||
| Payments/Gifts | 1.155*** | (0.000) | ||
| Constant | 0.235*** | (0.000) | 0.144*** | (0.000) |
| Country FE | Yes | Yes | ||
| Observations | 4,366 | 4,366 | ||
| 0.14 | ||||
| 85.10 | ||||
| df_m | 8 | 8 | ||
| df_r | 4,357 | |||
Note(s): p-values in parentheses *p < 0.05, **p < 0.01, ***p < 0.001
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