Research Article
Research on the Role and Mechanism of Digital Finance in Improving the Performance of Industrial Green Innovation
Table 3
Structural effect analysis of digital finance on the performance of industrial green innovation.
| | COV | USA | Digit | | (1) Gip | (2) ec | (3) tc | (4) Gip | (5) ec | (6) tc | (7) Gip | (8) ec | (9) tc |
| | L.Gip | 0.1833 (0.0077) | | | 0.1638 (0.0080) | | | 0.1890 (0.0080) | | | | L.ec | | -0.2643 (0.0041) | | | -0.2875(0.0040) | | | -0.2608 (0.0032) | | | L.tc | | | -0.2482 (0.0061) | | | -0.2536 (0.0084) | | | -0.2328 (0.0039) | | COV | 0.0031 (0.0003) | 0.0011 (0.0003) | 0.0007 (0.0001) | | | | | | | | USA | | | | 0.0019 (0.0002) | 0.0023 (0.0002) | -0.0002 (0.0001) | | | | | Digit | | | | | | | 0.0278 (0.0113) | -0.0941 (0.0139) | 0.0546 (0.0026) | | Control variables | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | | Constant | -8.8420 (0.8406) | -7.8205 (1.0061) | 0.3257 (0.5309) | -9.7545 (0.9500) | -6.8109 (1.3204) | -2.7167 (0.4792) | -11.7666 (0.9785) | -11.3640 (0.8897) | 0.8712 (0.3961) | | Sargan | 0.6110 | 0.7722 | 0.8151 | 0.7155 | 0.7970 | 0.8415 | 0.8942 | 0.8042 | 0.5809 | | AR(2) | 0.5769 | 0.7352 | 0.1924 | 0.5587 | 0.7165 | 0.1140 | 0.5576 | 0.6228 | 0.3392 |
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