Analysis of the Impact of Ecological Governance Capacity on the Enterprise Capital Configuration Efficiency: Mediating Effects Based on Social Responsibility

Table 6

Results of mediating effects.

Variables’ abbreviation	(1)	(2)	(3)
	INV	CSR	INV
SZ	2.510	12.250	2.398
	(7.58)	(13.35)	(7.12)
CSR			0.009
			(1.81)
Constant	−1.782	−8.184	−1.707
	(−9.11)	(−15.08)	(−8.54)
Control variables	Control	Control	Control
Observations	5,950	5,950	5,950
Number of NAME	850	850	850
R-squared	0.064	0.230	0.065
Corporate effect	Control	Control	Control
Time effect	Control	Control	Control
F test	0	0	0
r2_a	−0.0936	0.1000	−0.0931
F	35.01	152.0	32.14

10%, 5%, and 1%, observably.