Table 9 The moderating effect of business environment optimization.
From: Digital transformation as an ESG performance catalyst with insights from China’s external governance
Variables | ESG | Non-state enterprises | State owned enterprises |
|---|---|---|---|
(1) | (2) | (3) | |
DT*Marketization | 0.015** | 0.021** | 0.020*** |
(2.45) | (2.52) | (2.78) | |
DT | 0.019 | 0.013 | 0.032** |
(1.63) | (0.80) | (2.26) | |
Marketization | -0.023 | -0.048* | 0.014 |
(-1.30) | (-1.94) | (0.63) | |
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 | 33187 | 19471 | 12947 |
R-squared | 0.597 | 0.601 | 0.642 |
