Firm-level results, instrumental variables

	(1)	(2)	(3)	(4)	(5)	(6)
	delta_co2_ndrc	delta_co2_IPCC	delta_output	delta_export	delta_排放强度_ndrc	delta_排放强度_IPCC
delta_ZFDr_ein_win_L3L1	0.008	0.020	0.147***		-0.141***	-0.129***
	(0.017)	(0.018)	(0.022)		(0.026)	(0.026)
delta_ZFDr_ein_win_L2L1	0.024	0.006	0.114***		-0.097***	-0.096***
	(0.020)	(0.022)	(0.026)		(0.028)	(0.029)
delta_ZFDr_ein_win_L1L1	0.007	0.014	0.012		-0.017	-0.013
	(0.020)	(0.021)	(0.021)		(0.025)	(0.025)
delta_ZFDr_ein_win_L0L1	0.015	0.004	0.068***		-0.067**	-0.076**
	(0.018)	(0.020)	(0.022)		(0.030)	(0.031)
delta_ZFDr_ein_win_F1L1	0.029*	0.032**	0.035*		-0.031	-0.027
	(0.015)	(0.016)	(0.020)		(0.025)	(0.025)
delta_ZFDr_ein_win_F2L1	0.001	-0.004	0.074***		-0.091***	-0.099***
	(0.016)	(0.017)	(0.022)		(0.032)	(0.032)
L3.基于真实进口需求构建的企业层面外需增速				-0.014
				(0.023)
L2.基于真实进口需求构建的企业层面外需增速				-0.002
				(0.024)
L.基于真实进口需求构建的企业层面外需增速				-0.022
				(0.024)
基于真实进口需求构建的企业层面外需增速				0.383***
				(0.025)
F.基于真实进口需求构建的企业层面外需增速				0.033
				(0.023)
F2.基于真实进口需求构建的企业层面外需增速				-0.005
				(0.024)
Constant	0.090***	0.124***	0.125***	0.048*	0.009	0.038
	(0.027)	(0.028)	(0.020)	(0.027)	(0.032)	(0.034)
Fixed_effects	Industry-Year	Industry-Year	Industry-Year	Industry-Year	Industry-Year	Industry-Year
R2	0.042	0.043	0.062	0.118	0.058	0.057
Num_of_Obs	15102.000	15099.000	25016.000	25610.000	15075.000	15099.000
Note: *, **, and *** indicate significance at the 10 percent, 5 percent, and 1 percent levels.