Table 21 The impact of common institutional ownership under alternative classifications of the energy industry.
From: The impact of common institutional ownership on green innovation of China’s energy firms
Dependent variable | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) |
|---|---|---|---|---|---|---|---|---|---|
Greenpat | Greenpat | Greenpat | Greenpat | Greenpat | Greenpat | Greenpat | Greenpat | Greenpat | |
based on the primary business industry of the energy firm | based on the secondary industry classification of CSRC in energy firms | based on the secondary industry classification of CSRC in manufacturing firms | |||||||
L.Coz1 | 0.690*** | 0.387*** | 0.284*** | ||||||
(8.35) | (6.88) | (9.29) | |||||||
L.Coz2 | 0.852*** | 0.630*** | 0.498*** | ||||||
(8.88) | (7.89) | (9.84) | |||||||
L.Coz3 | 1.073*** | 1.076*** | 1.075*** | ||||||
(6.97) | (7.43) | (8.94) | |||||||
Controls | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Year FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Industry FE | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No |
N | 2924 | 2924 | 2924 | 2924 | 2924 | 19,736 | 19,736 | 19,736 | 19,736 |
Adj_R² | 0.341 | 0.343 | 0.333 | 0.331 | 0.336 | 0.334 | 0.332 | 0.333 | 0.332 |
