Green Credit, Financial Ecological Environment, and Investment Efficiency

Table 9

Test of the heterogeneity of the financial ecological environment.

Variable	Mixed panel model
	Fe = 1	Fe = 0
	(1)	(2)
Pollution	0.0128	0.0135
	(0.0036)	(0.0034)
After	−0.0017	−0.0054
	(0.0013)	(0.0020)
Pollution × After	−0.0035	−0.0014
	(0.0012)	(0.0015)
Control	Control	Control
Year	Control	Control
Industry_cons	Control	Control
	0.0505	0.0623
R^2 adjusted	(0.0052)	(0.0069)
R^2 adjusted	0.0844	0.0669
F	22.4277	9.9204

Standard deviations are in parentheses; , , and indicate significant differences at p < 0.01, p < 0.05, and p < 0.001, respectively.