Table 8 Moderating effects of government intervention.

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

 

Electricity

Coal

Oil

(1)

(2)

(3)

(4)

(5)

(6)

BCP

−0.162*** (0.018)

0.475*** (0.047)

0.092*** (0.018)

−0.147*** (0.042)

0.112*** (0.018)

0.081** (0.040)

gov

1.671*** (0.416)

2.108*** (0.468)

−3.185*** (0.472)

−3.349*** (0.501)

−0.752*** (0.282)

−0.774*** (0.285)

gov×BCP

 

−4.490*** (0.321)

 

1.685*** (0.273)

 

0.217 (0.252)

C

6.123*** (0.059)

6.063*** (0.066)

8.560*** (0.067)

8.582*** (0.071)

8.270*** (0.040)

8.272*** (0.040)

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

389061

389061

389061

389061

389061

389061

R2

0.696

0.696

0.834

0.834

0.729

0.729

Adj-R2

0.507

0.508

0.731

0.731

0.560

0.560

F

52.420

87.059

39.362

32.744

24.463

16.531

  1. (1) *** and ** signify significance at the 1% and 5% levels, respectively. (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. (4) gov is measured by the proportion of fiscal expenditure in GDP of the city where the firm is located.
Back to article page