Table 5 Re-estimation excluding contemporaneous policy disturbances.

From: Does digitalization improve firm-level energy efficiency? Evidence from a quasi-natural experiment in China

Variables

Firm energy efficiency

Firm energy consumption

Electricity

Coal

Oil

Electricity

Coal

Oil

(1)

(2)

(3)

(4)

(5)

(6)

BCP

−0.169*** (0.018)

0.104*** (0.018)

0.111*** (0.018)

0.171*** (0.016)

−0.102*** (0.016)

−0.109*** (0.016)

LCPC

−0.177*** (0.015)

0.083*** (0.015)

0.210*** (0.016)

0.221*** (0.014)

−0.039*** (0.014)

−0.165*** (0.014)

C

6.419*** (0.007)

8.020*** (0.007)

8.046*** (0.007)

3.580*** (0.006)

1.979*** (0.006)

1.952*** (0.006)

Firm FE

Yes

Yes

Yes

Yes

Yes

Yes

Industry FE

Yes

Yes

Yes

Yes

Yes

Yes

Year FE

Yes

Yes

Yes

Yes

Yes

Yes

City FE

Yes

Yes

Yes

Yes

Yes

Yes

Observations

389,061

389,061

389,061

389,061

389,061

389,061

R2

0.697

0.834

0.729

0.767

0.840

0.695

Adj-R2

0.508

0.732

0.560

0.623

0.741

0.506

F

107.693

31.606

107.518

173.759

24.847

93.483

  1. (1) *** signifies significance at the 1% level. (2) High-dimensional fixed effects methods are employed to concurrently control for firm characteristics, year characteristics, industry characteristics, and city characteristics. (3) Firm-level cluster robust standard errors are presented in parentheses.
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