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Variable | Definition |
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Ginnovation | The share of green patents in total patents within a prefecture-level city |
Treat | A dummy variable that equals 1 if the mean value of PM2.5 in the prefecture-level city is greater than the mean value of environmental quality across all prefecture-level cities before 2015 and 0 otherwise |
Post | A dummy variable that is 1 after 2014 and 0 otherwise |
AGDP | The natural logarithm of GDP per capita |
FDI | Foreign direct investment divided by GDP |
Struct | Tertiary sector output divided by secondary sector output |
Science | The natural logarithm of government subsidies for science and technology |
Industry | The natural logarithm of the number of industrial enterprises |
POP | The natural logarithm of the population |
PM25 | The natural logarithm of the PM2.5 concentration |
Ginnovation1 | The number of green patents granted divided by the number of all patents granted |
Town | Area of urban construction land divided by the area of the prefecture-level city |
HHI | The definition is shown in model 2 |
IPP | The natural logarithm of the number of first instances of intellectual property infringement in a province |
SA | −0.737 × Ln(Assets) + 0.043 × Ln(Asset)2 – 0.04 × Firm age |
Treatt | A dummy variable that is 1 when an enterprise belongs to a heavily polluting industry and 0 otherwise |
Size | The natural logarithm of total assets |
Lev | Total debt divided by total assets |
Tangi | Tangible assets divided by total asset |
ROA | Net profit divided by total assets |
Age | The natural logarithm of firm’s age |
SOE | A dummy variable that is 1 when an enterprises is controlled by government and 0 otherwise |
TOP1 | The number of shares held by the controlling shareholder divided by the number of all shares |
Duality | A dummy variable that is 1 if the CEO and chair of the board are not separate and 0 otherwise |
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