Table 12 Heterogeneity by industry characteristics.

From: Shadow banking development and corporate green innovation: evidence from A-share listed manufacturing companies in China

Variables

(1)

(2)

(3)

Labour-intensive

Capital-intensive

Technology-intensive

pre_shbank

1.4349***

0.8626***

0.9808***

 

(0.226)

(0.184)

(0.116)

lag_SA

−0.1730

0.4036

0.0720

 

(0.239)

(0.312)

(0.168)

lag_lnTfp

−0.1111

−0.0582

0.0106

 

(0.084)

(0.074)

(0.046)

Control variables

Yes

Yes

Yes

Firm fixed effects

Yes

Yes

Yes

Year fixed effects

Yes

Yes

Yes

Observations

2773

3952

6736

R2

0.458

0.554

0.546

  1. Standard errors clustered at the firm level are in parentheses. Statistical significance is denoted by * (10%), ** (5%) and *** (1%).
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