Does Stricter Command-and-Control Environmental Regulation Promote Total Factor Productivity? Evidence from China’s Industrial Enterprises

Table 1

Descriptive statistics.

Variables	Interpretation	Mean value	Standard deviation	Minimum value	Maximum value
TFP	Total factor productivity	5.307	1.014	0.002	12.568
ER	City’s COD emission reduction target	0.021	5.524	0	20
TIME	Year dummy	0.500	0.489	0	1
EXPORT	Ratio of export value to sales revenue	0.160	0.331	0	1.4
SUBSIDY	Ratio of subsidy to sales revenue	0.002	0.024	0	0.009
KL	Logarithm of the ratio of capital to labor	11.240	1.362	0	23.580
AGE	Logarithm of firm age plus 1	1.903	0.723	0	3.178
SIZE	Logarithm of the company’s total assets	9.809	1.425	0	20.156
PGDP	Logarithm of per capita GDP	10.174	0.744	4.595	11.932
POP	Logarithm of population	6.311	0.603	5.351	7.417
IC	COD emission intensity of every industry	0.528	0.499	0	1
HHI	The sum of the squares of the market shares of all companies in each industry in a city	0.124	0.165	0.004	0.888
GT	Proportion of main business income of state-owned and state-controlled industrial enterprises	0.629	0.197	0.032	0.870
MP	Urban green coverage rate	0.364	0.074	0.132	0.580