Table 1 Sample selection process Sample... | Emerald Publishing

Table 1

Sample selection process

Sample selection process	Dropped	Sample
All available observation in the CSMAR database with firm-identifying information from 2010 to 2018		24,932
Drop observations without water information disclosure	16,902	8,030
Drop observations in the financial industry	430	7,600
Drop observations without dependent variables or controls in the main regression model	501	7,099
Final sample		7,099

Sample selection process	Dropped	Sample
All available observation in the CSMAR database with firm-identifying information from 2010 to 2018		24,932
Drop observations without water information disclosure	16,902	8,030
Drop observations in the financial industry	430	7,600
Drop observations without dependent variables or controls in the main regression model	501	7,099
Final sample		7,099

Note(s): CSMAR database: China Stock Market and Accounting Research Database