Table 5 Results of robustness test on sample replacement.

From: ESG ratings empower high-quality development of logistics enterprises through digital transformation and green innovation

VAR

(1)

(2)

(3)

(4)

(5)

(6)

Exclude ST and ST * samples

Exclude samples from the ChiNext board

Extend the sample period

SIZE1

TFP1

SIZE1

TFP1

SIZE1

TFP1

ESG1

0.1134***

0.1515***

0.1124***

0.1472**

0.1149***

0.1497***

(3.582)

(2.930)

(3.447)

(2.640)

(3.624)

(2.932)

Control variables

Y

Y

Y

Y

Y

Y

Enterprises

Y

Y

Y

Y

Y

Y

City-Year

Y

Y

Y

Y

Y

Y

OBS

482

356

464

338

490

364

R2_A

0.964

0.901

0.962

0.901

0.964

0.904

  1. Note: The values in parentheses ( ) represent t-values; ***, **, and * denote p < 0.01, p < 0.05, and p < 0.1, respectively.
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