Table 3.
Robust check: different model. This table reports the results of OLS regressions examining the effect of digital transformation on environmental pollution. Appendix A provides variable definitions. The regressions control for the interaction term of industry and year fixed effects. In parentheses are t-statistics based on standard errors adjusted for heteroskedasticity and firm clustering.
| (1) | (2) | |
|---|---|---|
| Wwater | Wgas | |
| Digital | −0.021 *** | −0.036 *** |
| (−3.10) | (−2.91) | |
| Size | 0.043 *** | 0.144 *** |
| (6.81) | (9.37) | |
| ROA | −0.164 | −0.032 |
| (−1.42) | (−0.15) | |
| Lev | −0.119 *** | −0.406 *** |
| (−3.67) | (−5.29) | |
| Growth | 0.052 *** | 0.077 *** |
| (4.07) | (3.33) | |
| PPE | −0.331 *** | −0.156 |
| (−5.53) | (−0.76) | |
| Nership | −0.000 | 0.002 ** |
| (−0.69) | (2.53) | |
| Wedge | −0.001 | −0.003 * |
| (−1.64) | (−1.71) | |
| Duality | 0.009 | −0.018 |
| (0.74) | (−0.92) | |
| Restriction | 0.008 | 0.032 * |
| (0.96) | (1.76) | |
| Indepboard | 0.001 | 0.002 |
| (0.50) | (1.16) | |
| Compensation | −0.063 * | −0.152 ** |
| (−1.67) | (−2.07) | |
| Share | −0.001 ** | −0.001 ** |
| (−2.14) | (−2.05) | |
| Constant | −0.742 *** | −2.683 *** |
| (−5.24) | (−8.21) | |
| Industry FE * Year FE | Y | Y |
| N | 21,031 | 21,031 |
| R 2 | 0.008 | 0.023 |
Superscripts *, ** and *** denote significance at the 10%, 5% and 1% levels, respectively.