Table 8 Mechanism analysis.
From: Environmental vertical management reform and firms’ ESG performance: evidence from China
(1) | (2) | (3) | |
|---|---|---|---|
Monitor_prov | Enpenal_city | Endisclose_firm | |
Vertical | 1.720** | 0.214** | 0.087** |
(0.813) | (0.103) | (0.037) | |
Controls | YES | YES | YES |
Firm FE | NO | NO | YES |
Year FE | YES | YES | YES |
Industry FE | NO | NO | YES |
Province FE | YES | NO | NO |
City FE | NO | YES | NO |
N | 231 | 2308 | 32424 |
Adj.R2 | 0.245 | 0.391 | 0.569 |
