Table 9.
Threshold effect test results for stock market value and carbon emissions.
| Threshold Variable | Model | F-Value | p-Value | BS Times | Critical Value | ||
|---|---|---|---|---|---|---|---|
| 1% | 5% | 10% | |||||
| rd | Single-Threshold Model | 21.514 ** | 0.017 | 300 | 22.067 | 18.211 | 10.747 |
| Double-Threshold Model | 0.000 | 0.990 | 300 | 3.584 | 2.021 | 1.523 | |
| Three-Threshold Model | 1.918 | 0.375 | 200 | 16.242 | 7.682 | 5.521 | |
| ci | Single-Threshold Model | 21.892 *** | 0.010 | 300 | 21.601 | 15.540 | 9.215 |
| Double-Threshold Model | 16.297 ** | 0.047 | 300 | 20.316 | 15.421 | 10.384 | |
| Three-Threshold Model | 5.811 | 0.135 | 200 | 13.692 | 9.761 | 7.404 | |
| cp | Single-Threshold Model | 50.558 *** | 0.000 | 300 | 24.006 | 15.709 | 12.209 |
| Double-Threshold Model | 1.500 | 0.283 | 300 | 11.755 | 7.996 | 4.746 | |
| Three-Threshold Model | 1.403 | 0.405 | 200 | 10.029 | 8.133 | 6.219 | |
Note: *** and ** are significant at 1%, and 5% significance levels, respectively.