Table 7 The moderating effect of investor attention.
From: Digital transformation as an ESG performance catalyst with insights from China’s external governance
Variables | ESG | Non-high-tech enterprises | High-tech enterprises |
|---|---|---|---|
(1) | (2) | (3) | |
DT*Investor | 0.129*** | 0.234*** | 0.050* |
(5.74) | (6.41) | (1.77) | |
DT | 0.022** | -0.007 | 0.035** |
(2.21) | (-0.53) | (2.33) | |
Investor | -0.138*** | -0.093 | -0.128 |
(-2.68) | (-0.99) | (-1.61) | |
Controls | Yes | Yes | Yes |
Firm FE | Yes | Yes | Yes |
Year FE | Yes | Yes | Yes |
Industry FE | Yes | Yes | Yes |
City FE | Yes | Yes | Yes |
Observations | 33124 | 17186 | 15545 |
R-squared | 0.598 | 0.654 | 0.592 |
