Research Article
Digital Transformation and ESG Performance: A Quasinatural Experiment Based on China’s Environmental Protection Law
Table 9
Internal mechanism impact of DT on ESG.
| | Model (5) | Model (6) | | (1) | (3) | (3) | | ESG | ESG (EERE) | ESG (POLLUT) |
| | | 0.119 (0.022) | 0.074 (0.024) | | DT | 0.154 (0.036) | 0.158 (0.036) | 0.156 (0.036) | | SIZE | 0.183 (0.014) | 0.189 (0.014) | 0.186 (0.014) | | LEV | -0.700 (0.053) | -0.695 (0.053) | -0.693 (0.053) | | ROA | 1.054 (0.100) | 1.034 (0.100) | 1.038 (0.100) | | CASH | -0.286 (0.085) | -0.280 (0.085) | -0.285 (0.085) | | FIXED | 0.164 (0.069) | 0.153 (0.069) | 0.160 (0.069) | | INDEP | -0.220 (0.139) | -0.221 (0.139) | -0.217 (0.139) | | BM | 0.042 (0.008) | 0.042 (0.008) | 0.043 (0.008) | | AGE | -0.310 (0.080) | -0.317 (0.080) | -0.309 (0.080) | | Cons | 3.084 (0.429) | 2.993 (0.429) | 3.022 (0.429) | | Year fix | Yes | Yes | Yes | | Industry fix | Yes | Yes | Yes | | 27,338 | 27,338 | 27,338 | | Adj. | 0.061 | 0.062 | 0.061 |
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Notes: standard errors in parentheses. ; ; . |
