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

Table 5

Mechanism regression results.

	(1)	(2)	(3)	(4)
Variables	Innovation input	Innovation output	Resource allocation	Resource allocation
ER TIME	−0.014	−0.005	0.003	0.013
	(0.003)	(0.001)	(0.002)	(0.006)
ER TIME ln()			0.005
			(0.001)
KL	−0.001	−0.001	0.109	0.006
	(0.001)	(0.000)	(0.005)	(0.003)
EXPORT	0.009	0.026	0.004	−0.0116
	(0.001)	(0.003)	(0.004)	(0.011)
SUBSIDY	0.028	0.008	0.036	−0.0206
	(0.004)	(0.011)	(0.025)	(0.031)
AGE	0.004	0.010	−0.054	0.0996
	(0.001)	(0.002)	(0.006)	(0.017)
SIZE	0.007	0.004	0.438	0.0126
	(0.001)	(0.001)	(0.011)	(0.005)
PGDP	0.021	0.017	−0.054	0.593
	(0.014)	(0.020)	(0.024)	(0.140)
POP	0.004	0.013	−0.021	0.472
	(0.016)	(0.017)	(0.018)	(0.150)
Constant	−0.302	−0.227	−4.446	−5.038
	(0.226)	(0.293)	(0.326)	(2.079)
Control variables	YES	YES	YES	YES
Firm FE	YES	YES	YES	YES
Year FE	YES	YES	YES	YES
Observations	1,598,855	1,598,855	1,598,855	1,598,855
R-squared	0.094	0.024	0.121	0.871

Note: standard errors are clustered at the city level, and t statistics are shown in the respective parentheses. ; ; .