Table 6. Model 1: OLS.
| Variable | All samples | Developed countries | Emerging countries | Non-sensitive | Non-sensitive |
|---|---|---|---|---|---|
| Intercept | 5.1256*** (0.0489) |
5.401256*** (0.198) |
6.90425*** (0.042) |
6.85956** (0.613) |
4.8586*** (0.849) |
| CO2 (1lag) | 0.048596** (0.000) |
0.06023* (0.195) |
0.02521 (0.665) |
0.09845*** (0.598) |
0.08596** (0.643) |
| BGD | -0.28415** (0.035) |
-0.02042** (0.956) |
0.045526*** (0.058) |
-0.02641*** (0.3446) |
-0.01985** (0.45) |
| MTB | -0.049585 (0.239) |
-0.050263*** (0.963) |
0.001956** (0.352) |
-0.00599* (0.362) |
-0.00365 ** (0.946) |
| PER | 0.001955 (0.455) |
0.000421 (0.999) |
-0.00956 (0.184) |
0.0001642** (0.956) |
0.000653 (0.884) |
| ROA | 0.007214** (0.0326) |
0.09546 (0.158) |
0.051243*** (0.062) |
0.00585*** (0.045) |
0.001051 (0.956) |
| REV | 0.146956** (0.6845) |
0.13205** (0.0995) |
0.30526*** (0.203) |
-0.60295 (0.35) |
0.242565*** (0.856) |
| IND | 0.000362 (0.845) |
0.05012 (0.849) |
0.000195 (0.748) |
0.05935 (0.4195) |
0.00401 (0.695) |
| PEM | 0.474596** (0.141) |
1.26535** (0.584) |
0.685526** (0.285) |
1.1859** (0.069) |
-0.8965** (0.355) |
| TEM | 1.102356** (0.495) |
1.88595*** (0.000) |
1.415268* (0.3026) |
1.1856*** (0.244) |
0.98596** (0.6546) |
| PEE | 0.484596* (0.416) |
0.41023*** (0.549) |
-1.121635* (0.056) |
0.2695*** (0.084) |
0.984102** (0.656) |
| BIR | 2.052635** (0.956) |
1.84563** (0.198) |
3.51426*** (0.859) |
1.88453** (0.062) |
2.04156*** (0.6352) |
| EME | 0.488842** (0.856) |
0.4956*** (0.095) |
-0.30529* (0.185) |
||
| SES | 0.139865** (0.053) |
0.1869*** (0.058) |
0.30256 (0.589) |
||
| Adj_R2 | 0.4941 | 0.4021 | 0.4641 | 0.5623 | -0.4516 |
| F-stats | 402.3256** (0.185) |
3854.23*** (1.956) |
26.25* (0.985) |
278.23** (0.038) |
95.023** (0.859) |
| Sample | 6023 | 5156 | 390 | 4510 | 1802 |
| AIC | 28045.65 | 24156.29 | 1493.52 | 14992.41 | 7023.66 |
| BIC | 27899.41 | 23256.84 | 1542.63 | 19823.46 | 7198.12 |