Table 6 Heterogeneity analysis on company ownership.

From: Is executive compensation aligned with the company’s ESG objectives? Evidence from Chinese listed companies based on the PSM-DID approach

 

(1)

(2)

 

Pay

Pay

 

SOE = 1

SOE = 0

DID

0.104***

0.089**

 

(0.035)

(0.039)

Constant

8.617***

7.541***

 

(0.317)

(0.344)

Fixed effect

YES

YES

Control variable

YES

YES

N

3712

7160

Adjusted R2

0.389

0.377

  1. The standard errors for clustering at the industrial level are in parentheses. The Year, Industry indicators, control variables are included in the corresponding models, but their coefficients are not in this table. ***, ** represent significance at 1%, 5% levels, respectively.
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