Table 9 Mechanism test 1.

From: Market-incentive environmental regulation and total factor energy efficiency: evidence from China’s energy-consuming right trading pilot

Variables

(1)

(2)

(3)

(4)

GP_apply

GP_apply

GP_grant

GP_grant

Treat×Post

0.041***

0.035***

0.014*

0.015**

 

(0.009)

(0.009)

(0.007)

(0.007)

Control

No

YES

No

YES

Constant

0.432***

0.461

0.144***

0.785***

 

(0.002)

(0.384)

(0.002)

(0.275)

Obs

3080

3014

3080

3014

R-squared

0.522

0.540

0.402

0.411

City FE

YES

YES

YES

YES

Year FE

YES

YES

YES

YES

  1. ***, **, and * represent significance levels of 1%, 5%, and 10%, respectively. Robust standard errors after clustering are in the parentheses.
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