Table 4 Parallel trend test.

From: Environmental vertical management reform and firms’ ESG performance: evidence from China

 

ESG

pre5

0.035 (0.41)

pre4

0.032 (0.46)

pre3

0.014 (0.23)

pre2

0.050 (1.16)

pre1

0.037 (1.39)

post1

0.068** (2.51)

post2

0.142*** (3.03)

post3

0.128* (1.94)

post4

0.122

(1.42)

post5

0.152

(1.15)

Controls

Yes

Firm/Year/Industry FE

Yes

  1. Standard errors in parentheses.
  2. ***1% Significance, **5% Significance, *10% Significance.