Table 2 The Impact of Extreme Precipitation on Corporate Continuous Innovation.
From: Climate shocks and innovation persistence: evidence from extreme precipitation
Variable | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
IIP | OIP | IIP | OIP | |
Precipitation | −0.1823*** (−3.16) | −0.2104*** (−2.58) | −0.1652*** (−2.86) | −0.1923** (−2.36) |
Size | 0.1435*** (4.21) | 0.1276*** (3.78) | ||
Leverage | −0.2567*** (−3.86) | −0.2124*** (−3.24) | ||
ROA | 0.4823*** (5.34) | 0.4156*** (4.78) | ||
Age | −0.0387* (−1.76) | −0.0412* (−1.83) | ||
State | −0.0456 (−1.34) | −0.0512 (−1.47) | ||
PGDP | 0.0834** (2.37) | 0.0765** (2.18) | ||
Population | 0.0423* (1.68) | 0.0375 (1.52) | ||
Temperature | 0.0053 (1.14) | 0.0046 (0.98) | ||
Temp std | −0.0124 (−1.21) | −0.0137 (−1.32) | ||
Humidity | −0.0012 (−0.76) | −0.0015 (−0.87) | ||
N | 19165 | 19165 | 19165 | 19165 |
YEAR | Yes | Yes | Yes | Yes |
FIRM | Yes | Yes | Yes | Yes |
Adj_R2 | 0.387 | 0.392 | 0.415 | 0.418 |
