Table 2 Correlation test of variables.

From: Poison or catalyst? How do energy saving targets matter for firm-level productivity in China

Variables

VIF

TFP

Target

Target2

Roa

Lev

Fixed

Size

SOE

Export

Age

target

3.42

0.299***

1

        

target2

2.83

0.149***

0.783***

1

       

toa

1.16

0.197***

−0.054***

−0.018***

1

      

lev

1.15

−0.106***

0.047***

0.007

−0.191***

1

     

fixed

1.29

−0.128***

0.129***

0.024***

−0.225***

−0.066***

1

    

size

1.77

0.760***

0.332***

0.150***

−0.064***

0.007

−0.029***

1

   

SOE

1.20

0.054***

0.087***

0.038***

−0.061***

0.070***

0.076***

0.184***

1

  

export

1.37

0.275***

−0.002

0.041***

−0.023***

−0.085***

−0.184***

0.293***

−0.032***

1

 

age

1.17

0.142***

0.118***

0.079***

−0.050***

−0.003

−0.090***

0.223***

0.275***

0.153***

1

marketshare

1.64

0.618***

0.449***

0.310***

0.039***

−0.012*

−0.023***

0.535***

0.101***

0.175***

0.154***

  1. TFP Total Factor Productivity, target Target/The Natural Logarithm of Enterprise’ Total Assets, target2 Square of Target, roa Return on Assets, lev Enterprise Financial Leverage, fixed Fixed Assets, size Enterprise Scale, SOE Enterprise Ownership, export Whether The Enterprise Is An Exporter, age Enterprise Age, marketshare Enterprise Market Share.
  2. *p < 0.1, **p < 0.05, ***p < 0.01.
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