Table 9 Least squares regression results.

From: Why issue green bonds? Examining their dual impact on environmental protection and economic benefits

 

(1)

(2)

(3)

(4)

(5)

(6)

ESG

   

−2.338

(0.135)

−0.62

(0.13)

−3.435

(0.000***)

Scale

0.007

(0.117)

−0.003

(0.000***)

−0.001

(0.003***)

−0.21

(0.021**)

−0.13

(0.000***)

−0.095

(0.000***)

Rate

−1.12

(0.058*)

−0.571

(0.000***)

0.171

(0.185)

−24.688

(0.045**)

28.092

(0.000***)

−36.229

(0.000***)

Term

0.207

(0.331)

−0.063

(0.000***)

−0.189

(0.000***)

0.524

(0.905)

−2.621

(0.000***)

−0.765

(0.36)

Country

−2.554

(0.601)

3.464

(0.000***)

3.059

(0.001***)

−474.116

(0.000***)

−87.353

(0.000***)

−212.394

(0.000***)

Industry

5.723

(0.065*)

−0.233

(0.507)

−1.467

(0.026**)

92.542

(0.151)

254.021

(0.000***)

294.035

(0.000***)

Bond

1

0

1.266

(0.062*)

1

0

11.698

(0.629)

Constant

62.606

(0.000***)

62.193

(0.000***)

61.532

(0.000***)

747.643

(0.000***)

138.397

(0.000***)

565.37

(0.000***)

R2

0.08

0.024

0.023

0.148

0.049

0.074

Adj. R2

0.054

0.024

0.022

0.119

0.048

0.073

F

3.048

(0.012**)

60.26

(0.000***)

17.524

(0.000***)

5.069

(0.000***)

102.856

(0.000***)

51.328

(0.000***)

  1. Note: This table presents the test results of models 1 and 2 using the least squares method. Columns (1), (2), and (3) represent the regression results of model 1 on the data for groups A, B, and C, respectively, indicating the impact of each variable on ESG scores. Columns (4), (5), and (6) represent the regression results of model 2 on the data for groups A, B, and C, respectively, indicating the impact of each variable on CO2 emissions equivalent.
  2. The significance levels *** (1%), ** (5%), and * (10%) are used to indicate the level of statistical significance.
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