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

Table 7

Heterogeneity analysis results.

	(1)	(2)	(3)	(4)	(5)	(6)
ER TIME	0.007	0.010	0.002	0.007	0.058	0.008
	(0.004)	(0.003)	(0.003)	(0.003)	(0.030)	(0.002)
KL	−0.185	−0.214	−0.237	−0.228	−0.204	−0.214
	(0.015)	(0.005)	(0.011)	(0.007)	(0.008)	(0.010)
EXPORT	0.060	0.014	−0.034	0.006	−0.019	0.054
	(0.067)	(0.009)	(0.020)	(0.012)	(0.024)	(0.039)
SUBSIDY	−0.860	−0.735	−0.286	−0.597	−0.724	−0.466
	(0.126)	(0.095)	(0.129)	(0.081)	(0.094)	(0.156)
AGE	0.201	0.487	0.581	0.478	0.549	0.433
	(0.037)	(0.017)	(0.020)	(0.019)	(0.025)	(0.024)
SIZE	0.287	0.260	0.378	0.311	0.223	0.268
	(0.017)	(0.009)	(0.019)	(0.010)	(0.014)	(0.014)
PGDP	0.085	0.357	0.272	0.373	0.366	−0.013
	(0.052)	(0.100)	(0.144)	(0.149)	(0.149)	(0.042)
POP	−0.042	0.191	0.284	0.260	0.281	−0.059
	(0.044)	(0.086)	(0.098)	(0.109)	(0.233)	(0.044)
Constant	3.145	−0.216	−0.829	−1.195	−0.459	4.631
	(0.615)	(1.441)	(1.909)	(2.091)	(2.459)	(0.602)
Observations	70,583	1,175,384	352,888	1,186,908	267,116	144,831
R-squared	0.157	0.204	0.258	0.241	0.205	0.208
Firm FE	Yes	Yes	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes	Yes	Yes

Note: FE stands for fixed effect; , , denote significance at the 10%, 5%, and 1% levels, respectively. Standard errors are reported in parentheses.