Moderating mechanism
| Variables | Green R&D | Information processing ability | Corporate governance | Analyst coverage | Green R&D |
|---|---|---|---|---|---|
| Short | −0.3312*** (0.0523) | −0.2794** (0.0335) | |||
| digital | 0.2587*** (0.0561) | 0.1527*** (0.0058) | 0.2157*** (0.0098) | 0.0118*** (0.0004) | |
| 0.2747*** (0.0085) | |||||
| Cons | 0.9327 *** (0.1699) | 0.5822*** (0.0142) | 0.3162*** (0.0076) | 0.2813*** (0.0098) | 0.2747*** (0.0085) |
| Control variables | No | Yes | Yes | No | Yes |
| Year | Yes | Yes | Yes | Yes | Yes |
| Company | Yes | Yes | Yes | Yes | Yes |
| Observations | 35,635 | 35,635 | 35,635 | 35,635 | 35,635 |
| Within | 0.0594 | 0.0578 | 0.0473 | 0.0319 | 0.0494 |
| Variables | Green R&D | Information processing ability | Corporate governance | Analyst coverage | Green R&D |
|---|---|---|---|---|---|
| −0.3312 | −0.2794 | ||||
| 0.2587 | 0.1527 | 0.2157 | 0.0118 | ||
| 0.2747 | |||||
| 0.9327 | 0.5822 | 0.3162 | 0.2813 | 0.2747 | |
| No | Yes | Yes | No | Yes | |
| Yes | Yes | Yes | Yes | Yes | |
| Yes | Yes | Yes | Yes | Yes | |
| 35,635 | 35,635 | 35,635 | 35,635 | 35,635 | |
| 0.0594 | 0.0578 | 0.0473 | 0.0319 | 0.0494 |
Notes:
*, ** and ***are used to denote statistical significance at the 10, 5 and 1% levels, respectively. The standard errors have been adjusted to account for clustering at the level of the firm
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