Table 7 Robustness tests: instrumental variable test II.
From: ESG and green innovation: nonlinear moderation of public attention
VARS | Regional level of charitable giving | ESG fund shareholding | ||||
|---|---|---|---|---|---|---|
(1) | (2) | (3) | (4) | (5) | (6) | |
ESG | 0.670*** | 4.255** | 7.813* | 0.257*** | 3.802* | 5.169** |
(0.224) | (2.030) | (4.464) | (0.0610) | (2.044) | (2.538) | |
Public | 3.724** | 3.211* | 3.344* | 2.053** | ||
(1.780) | (1.801) | (1.794) | (1.040) | |||
ESGPublic | 0. 408 | 2.607* | −0.748* | 1.723** | ||
(0. 869) | (1.493) | (0.410) | (0.843) | |||
ESGPublic2 | −0.200* | −0.137** | ||||
(0.117) | (0.0655) | |||||
Constant | −3.438*** | 14.93* | 14.20 | −3.424*** | −19.80** | −14.50** |
(0.552) | (8.666) | (9.799) | (0.405) | (8.961) | (5.743) | |
Observations | 2666 | 2666 | 2666 | 2602 | 2602 | 2602 |
R-squared | −0.661 | −1.481 | −2.450 | 0.150 | −1.056 | −0.748 |
Controls | Yes | Yes | Yes | Yes | Yes | Yes |
Ind | Yes | Yes | Yes | Yes | Yes | Yes |
Year | Yes | Yes | Yes | Yes | Yes | Yes |
IV1 | 0.3746*** | 0.0188*** | 0.4029*** | 0.0193*** | 0.0009*** | 0. 0007*** |
(0.0444) | (0.0089) | (0.0089) | (0. 0019) | (0. 0004) | (0. 0003) | |
