From: Tax incentives and environmental protection: evidence from China’s taxpayer-level data
Dependent variable: ROA | Original value | Weighted growth | ||
---|---|---|---|---|
Independent variables | (1) | (2) | (3) | (4) |
Part A: benchmark sample | ||||
Lagged ITCdummy | −0.008 (0.008) | −0.008 (0.008) | −0.041 (2.413) | −1.384* (0.743) |
lagged TIDdummy | −0.011 (0.012) | −0.010 (0.013) | 4.773 (5.487) | 2.680 (6.098) |
Taxpayer-level control variables | Yes | Yes | Yes | Yes |
Taxpayer fixed effect | Yes | Yes | Yes | Yes |
Year fixed effect | Yes | Yes | Yes | Yes |
Province and province-year fixed effect | Yes | No | Yes | No |
Industry and industry-year fixed effect | No | Yes | No | Yes |
Within R-square | 0.013 | 0.010 | 0.005 | 0.001 |
Observation | 25003 | 25003 | 24814 | 24814 |
Part B: benchmark sample without SOEs | ||||
Lagged ITCdummy | −0.014 (0.009) | −0.014 (0.009) | −1.472** (0.727) | −1.510** (0.663) |
Lagged TIDdummy | −0.011 (0.015) | −0.011 (0.015) | 4.869 (6.040) | 3.340 (6.372) |
Taxpayer-level control variables | Yes | Yes | Yes | Yes |
Taxpayer fixed effect | Yes | Yes | Yes | Yes |
Year fixed effect | Yes | Yes | Yes | Yes |
Province and province-year fixed effect | Yes | No | Yes | No |
Industry and industry-year fixed effect | No | Yes | No | Yes |
Within R-square | 0.014 | 0.011 | 0.002 | 0.003 |
Observation | 22903 | 22903 | 23939 | 23939 |