Research Article
Research on the Role and Mechanism of Digital Finance in Improving the Performance of Industrial Green Innovation
Table 4
Analysis of the inclusive effect of digital finance on the performance of industrial green innovation.
| | The group with a higher level of traditional financial development | The group with a lower level of traditional financial development | (1) Gip | (2) ec | (3) tc | (4) Gip | (5) ec | (6) tc |
| L.Gip | 0.2873 (0.0239) | | | -0.2696 (0.0223) | | | L.ec | | -0.3038 (0.0309) | | | -0.2262 (0.0136) | | L.tc | | | -0.1560 (0.0354) | | | -0.1478 (0.0215) | Dif | 0.0278 (0.0941) | -0.2997 (0.1440) | 0.2162 (0.0824) | 0.1408 (0.0634) | 0.1322 (0.0715) | 0.0614 (0.0343) | Control variables | Yes | Yes | Yes | Yes | Yes | Yes | Constant | -38.6171 (11.2736) | -14.7773 (8.2160) | -0.0516 (6.4251) | 1.0373 (1.5738) | -0.1161 (2.9191) | -0.6663 (2.7287) | Sargan | 1.0000 | 1.0000 | 1.0000 | 0.9904 | 0.9952 | 0.9877 | AR(2) | 0.3341 | 0.9810 | 0.7334 | 0.4204 | 0.5837 | 0.1405 |
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