Impact of Low-Carbon City Policy on Enterprise Investment Efficiency: Based on the Heterogeneity of Chinese Urban Culture

Table 4

Regression results of green culture heterogeneity.

Variables	(1)	(2)	(3)	(4)	(5)	(6)
	Strong green culture	Weak green culture	High intervention	Low intervention	Resource-based city	Non-resource-based city
LCC	-0.011	-0.007	-0.003	-0.007	-0.005	-0.006
	(-2.53)	(-1.73)	(-0.69)	(-2.35)	(-0.46)	(-2.29)
Constant	0.054	0.061	0.058	-0.044	0.040	0.044
	(1.31)	(1.49)	(1.38)	(-1.42)	(0.84)	(1.10)
Observations	4,896	4,498	4,792	6,116	1,109	9,842
-squared	0.014	0.067	0.041	0.016	0.032	0.025
Control variables	Yes	Yes	Yes	Yes	Yes	Yes
Time fixed effects	Yes	Yes	Yes	Yes	Yes	Yes
Enterprise fixed effects	Yes	Yes	Yes	Yes	Yes	Yes
Province fixed effects	Yes	Yes	Yes	Yes	Yes	Yes
Industry fixed effects	Yes	Yes	Yes	Yes	Yes	Yes

Note: robust -statistics are in parentheses; , , and .