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Extreme temperature and enterprise digital transformation

Table 2. Extreme temperatures and enterprise digital transformation: baseline regression
Explained variable Digital Digital
1 2
(1) (2) (3) (4)
Extreme 0.043** 0.061*** 0.001*** 0.002***
j, t
(0.019) (0.021) (0.000) (0.001)
Extreme j, t-1 0.039** 0.072*** 0.003*** 0.003***
(0.019) (0.020) (0.001) (0.001)
Size 7.403*** 7.082*** 0.370*** 0.281***
(0.430) (0.466) (0.017) (0.019)
Lev −2.105 1.954 −0.266*** −0.016
(1.720) (1.730) (0.067) (0.068)
ROA 2.097 −4.457 −0.099 −0.206
(4.014) (3.993) (0.148) (0.148)
Board 0.422 1.581 0.191*** 0.274***
(1.581) (1.551) (0.066) (0.065)
ListAge 8.128*** 1.704** 0.460*** 0.073**
(0.642) (0.806) (0.025) (0.031)
Indep −0.097** −0.048 0.001 0.002
(0.048) (0.047) (0.002) (0.002)
Dual 0.373 0.378 0.002 −0.005
(0.572) (0.559) (0.021) (0.021)
TOP1 −0.036 −0.032 −0.004*** −0.002**
(0.026) (0.025) (0.001) (0.001)
BM 1.980** −9.410*** −0.202*** −0.301***
(0.992) (1.369) (0.038) (0.051)
SOE −1.368 −1.105 −0.103** −0.059
(1.134) (1.118) (0.048) (0.048)
Big4 −0.423 −0.830 −0.129** −0.145**
(1.342) (1.315) (0.058) (0.057)
Opinion 2.261* 1.971 0.047 0.019
(1.329) (1.300) (0.055) (0.053)
LnIC −0.615 2.880** −0.097** 0.023
(1.258) (1.251) (0.046) (0.046)
LnGDP 0.612 −0.545 0.160*** −0.032
(0.700) (0.967) (0.029) (0.037)
LnEDU 0.436 0.182 0.029 0.021
(0.674) (0.670) (0.027) (0.026)
LnENV 1.309 1.237 0.064 −0.271**
(2.847) (3.038) (0.106) (0.111)
Wind j, t −0.330 −1.572** −0.091*** −0.084***
(0.703) (0.740) (0.028) (0.029)
Wind j, t-1 −2.339*** −0.632 −0.034 −0.012
(0.692) (0.737) (0.026) (0.027)

(Cont’d...)

Volume 22 Issue 4 (2025) 129 doi: 10.36922/AJWEP025210166