Table 5 Endogeneity test: Instrumental variables analysis.
From: The impact of common institutional ownership on green innovation of China’s energy firms
Dependent variable | (1) | (2) | (3) | (4) | (5) | (6) |
|---|---|---|---|---|---|---|
L.Coz1 | Greenpat | L.Coz2 | Greenpat | L.Coz3 | Greenpat | |
L.Coz1 | 2.574*** | |||||
(2.88) | ||||||
L.Coz2 | 2.713*** | |||||
(3.00) | ||||||
L.Coz3 | 4.802*** | |||||
(2.90) | ||||||
Bartik Iv | 0.170*** | 0.162*** | 0.091*** | |||
(4.11) | (4.34) | (3.97) | ||||
Controls | Yes | Yes | Yes | Yes | Yes | Yes |
Year FE | Yes | Yes | Yes | Yes | Yes | Yes |
Industry FE | Yes | Yes | Yes | Yes | Yes | Yes |
KP rk LM test | 15.761*** | 18.212*** | 15.086*** | |||
KP Wald rk F test | 16.902 | 18.878 | 15.723 | |||
Endogeneity test | 6.944*** | 6.227** | 8.845*** |
