Table 6.
Regression results of the impact of enterprise green technology innovation on enterprise financial performance
| Independent variables | Model 3 | Model 4 Lag one period |
Model 4 Lag two periods |
|---|---|---|---|
| GTI | 0.0019** | ||
| (2.3141) | |||
| GTIi,t−1 | 0.0011 | ||
| (0.7637) | |||
| GTIi,t−2 | 0.0151*** | ||
| (8.0552) | |||
| SIZE | 0.0025** | 0.0047*** | − 0.0040 |
| (2.3391) | (2.8121) | (− 1.6099) | |
| LEV | 0.0164 | 0.0559* | 0.0557 |
| (1.1116) | (1.7584) | (1.5596) | |
| AGE | 12.5720*** | 25.3105*** | 2.3810 |
| (3.2535) | (3.8759) | (0.4183) | |
| EQU | − 0.0002 | − 0.0001 | − 0.0005 |
| (− 0.4282) | (− 0.2278) | (− 0.6047) | |
| LIQ | 0.0002 | − 0.0010 | 0.0063 |
| (0.2598) | (− 0.8372) | (1.2673) | |
| SOE | − 0.0082 | − 0.0169 | − 0.0074 |
| (− 0.7848) | (− 0.6271) | (− 0.3647) | |
| YEAR | Yes | Yes | Yes |
| N | 1167 | 662 | 426 |
| adj. R2 | 0.442 | 0.226 | 0.445 |
*** Significant at 1%; ** significant at 5%; * significant at 10%