Table 8 Heterogeneity analysis (1).

From: Can carbon emission trading policies promote the withdrawal of government subsidies and the green development of enterprises? Empirical evidence from China’s A-share market

Variables

(1)

(2)

(3)

(4)

(5)

(6)

(7)

A: GS

Treat × Time

4.977 (5.132)

−3.998*** (1.322)

−0.872 (0.670)

−2.485*** (0.401)

−1.524** (0.772)

−1.411 (1.155)

−2.296** (1.129)

Observations

237

108

1680

728

410

2080

240

adj. R2

0.293

0.275

0.236

0.201

0.257

0.246

0.211

B: GP

Treat × Time

2.612*** (0.751)

3.290*** (0.853)

1.433** (0.661)

0.041 (0.434)

0.782 (1.311)

0.592 (1.177)

0.433 (0.825)

Observations

237

108

1705

733

410

2080

243

adj. R2

0.588

0.297

0.268

0.252

0.254

0.242

0.311

Control variables

YES

YES

YES

YES

YES

YES

YES

Individual FE

YES

YES

YES

YES

YES

YES

YES

Province-Year FE

YES

YES

YES

YES

YES

YES

YES

Industries-Year FE

YES

YES

YES

YES

YES

YES

YES

  1. (1)-(7) correspond to the mining industry; petroleum coke industry; nonmetallic minerals, metal smelting, and metal products industry; electricity, heat, gas, and water production and supply; textile industry; chemical products; and paper industry, respectively.
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