Table 2 Base regression results of model Eq. (1).
From: Regional carbon efficiency and corporate cash holdings: evidence from China
(1) | (2) | (3) | (4) | |
|---|---|---|---|---|
Variables | Cash1 | Cash2 | Cash1 | Cash2 |
Ceff | −0.0477*** | −0.1349*** | −0.0069*** | −0.0356*** |
(0.0014) | (0.0058) | (0.0012) | (0.0055) | |
TobinQ | −0.0010 | −0.0139*** | ||
(0.0006) | (0.0032) | |||
Size | −0.0091*** | −0.0007 | ||
(0.0015) | (0.0084) | |||
Age | −0.1424*** | −0.4666*** | ||
(0.0023) | (0.0146) | |||
Soe | −0.0030 | −0.0078 | ||
(0.0040) | (0.0171) | |||
First | −0.0419*** | −0.1709*** | ||
(0.0095) | (0.0364) | |||
Grow | −0.0030** | −0.0117 | ||
(0.0015) | (0.0080) | |||
Roa | 0.1140*** | −0.0682 | ||
(0.0203) | (0.1312) | |||
Tatr | −0.0230*** | −0.1115*** | ||
(0.0023) | (0.0153) | |||
Cf | 0.2792*** | 1.5616*** | ||
(0.0110) | (0.1828) | |||
Nwc | 0.0203*** | 0.0558*** | ||
(0.0021) | (0.0127) | |||
Di | −0.0784** | −0.7889*** | ||
(0.0399) | (0.2423) | |||
Constant | 0.2409*** | 0.4974*** | 0.5869*** | 1.1022*** |
(0.0022) | (0.0098) | (0.0319) | (0.1715) | |
Individual | YES | YES | YES | YES |
Annual | NO | NO | YES | YES |
Observations | 26,041 | 26,041 | 26,041 | 26,041 |
R2 | 0.0751 | 0.0335 | 0.4254 | 0.2846 |
N | 3030 | 3030 | 3030 | 3030 |
