Table 9 Estimation results of the model with counterfactual simulation.

From: How does industry-university-research collaborative innovation affect energy intensity in China: a novel explanation based on political turnover

Variables

(1)

(2)

(3)

(4)

FE

SYSGMM

FE

SYSGMM

CI

−0.0479

(−1.44)

−0.0779*

(−1.89)

−0.0451

(−1.63)

−0.0766*

(−1.78)

L.EI

 

1.2209***

(11.34)

  

PT-1

−0.0793*

(−1.78)

−0.0522

(−0.88)

  

PT-2

  

−0.0105

(−0.75)

−0.0640

(−0.96)

CI × PT-1

−0.0113

(−0.95)

−0.0431

(−0.98)

  

CI × PT-2

  

−0.0115

(−0.73)

−0.0330

(−0.90)

Control

Yes

Yes

Yes

Yes

Constant

Yes

Yes

Yes

Yes

Observations

270

240

270

240

Hansen Test

 

23.08

 

25.38

P-Hansen

 

0.257

 

0.355

P-AR(2)

 

0.122

 

0.197

  1. T statistics in parentheses; ***p < 0.01, *p < 0.1; the Hausman test shows that the FE model is acceptable. PT-1 and PT-2 indicate that the time of political turnover is assumed to be advanced by one year and two years, respectively.
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