Table 10 PSM regression results.

From: Assessing the moderating effect of environmental regulation on the process of media reports affecting enterprise investment inefficiency in China

 

(1)

(2)

(3)

(4)

(5)

 

Invest

Invest

Invest

Invest

Invest

Media

−0.040*

    
 

(−1.65)

    

P_Media

 

−0.056**

   
  

(−2.30)

   

N_Media

  

−0.027

  
   

(−1.23)

  

Fee

   

−0.026***

 
    

(−2.64)

 

Subsidy

    

−0.040**

     

(−2.55)

Constant

−2.597***

−2.596***

−3.253***

−1.372**

−2.374***

 

(−6.69)

(−6.55)

(−8.71)

(−2.50)

(−4.79)

Control variables

YES

YES

YES

YES

YES

Industry FE

YES

YES

YES

YES

YES

Year FE

YES

YES

YES

YES

YES

N

2236

2202

2305

1061

1213

R-squared

0.060

0.047

0.054

0.074

0.060

Adj R-squared

0.054

0.041

0.049

0.062

0.050

  1. Note: t statistics in parentheses, *p < 0.1, **p < 0.05, ***p < 0.01.
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