
% Table created by stargazer v.5.2.3 by Marek Hlavac, Social Policy Institute. E-mail: marek.hlavac at gmail.com
% Date and time: Wed, Oct 22, 2025 - 2:03:10 PM
\begin{table}[!htbp] \centering 
  \caption{Regression Results on Z-Score of Dependent Variable} 
  \label{} 
\begin{tabular}{@{\extracolsep{5pt}}lcccc} 
\\[-1.8ex]\hline 
\hline \\[-1.8ex] 
 & \multicolumn{4}{c}{Dependent Variable: CO2 Emission per Sale (Z-Score)} \\ 
\cline{2-5} 
\\[-1.8ex] & \multicolumn{4}{c}{CO2 Emission per Sale (Z-Score)} \\ 
\\[-1.8ex] & (1) & (2) & (3) & (4)\\ 
\hline \\[-1.8ex] 
 zk\_l & 0.012$^{***}$ & 0.011$^{***}$ & 0.102$^{***}$ & 0.108$^{***}$ \\ 
  & (0.003) & (0.003) & (0.029) & (0.029) \\ 
  & & & & \\ 
 zenergy\_share & 0.679$^{***}$ & 0.685$^{***}$ & 0.865$^{***}$ & 0.850$^{***}$ \\ 
  & (0.003) & (0.003) & (0.025) & (0.024) \\ 
  & & & & \\ 
 zengcoal\_share & 0.277$^{***}$ & 0.286$^{***}$ & 0.267$^{***}$ & 0.279$^{***}$ \\ 
  & (0.003) & (0.003) & (0.015) & (0.015) \\ 
  & & & & \\ 
 soesoe\_pub & 0.118$^{***}$ & 0.130$^{***}$ & 0.303$^{*}$ & 0.344$^{**}$ \\ 
  & (0.029) & (0.029) & (0.178) & (0.175) \\ 
  & & & & \\ 
 soesoe\_pvt & 0.012 & 0.015 & $-$0.171 & $-$0.056 \\ 
  & (0.038) & (0.038) & (0.353) & (0.348) \\ 
  & & & & \\ 
 zexpshare & $-$0.005$^{**}$ & $-$0.006$^{***}$ & $-$0.003 & $-$0.006 \\ 
  & (0.002) & (0.002) & (0.021) & (0.021) \\ 
  & & & & \\ 
 msmecatmedium & 0.026$^{***}$ & 0.027$^{***}$ & 0.090$^{*}$ & 0.078$^{*}$ \\ 
  & (0.008) & (0.008) & (0.046) & (0.046) \\ 
  & & & & \\ 
 msmecatmicro & 0.179$^{***}$ & 0.184$^{***}$ & 0.464$^{***}$ & 0.449$^{***}$ \\ 
  & (0.009) & (0.009) & (0.058) & (0.055) \\ 
  & & & & \\ 
 msmecatsmall & 0.053$^{***}$ & 0.053$^{***}$ & 0.204$^{***}$ & 0.204$^{***}$ \\ 
  & (0.008) & (0.008) & (0.049) & (0.048) \\ 
  & & & & \\ 
 age & $-$0.001$^{***}$ & $-$0.001$^{***}$ & 0.001 & 0.001 \\ 
  & (0.0001) & (0.0001) & (0.001) & (0.001) \\ 
  & & & & \\ 
 factor(isocat)yesISO & 0.015$^{**}$ & 0.015$^{*}$ & $-$0.042 & $-$0.006 \\ 
  & (0.008) & (0.008) & (0.063) & (0.062) \\ 
  & & & & \\ 
 factor(rndcat)RDyesNR & 0.009 & 0.007 & $-$0.039 & $-$0.017 \\ 
  & (0.013) & (0.013) & (0.116) & (0.115) \\ 
  & & & & \\ 
 factor(rndcat)RDyesR & 0.002 & 0.004 & $-$0.084 & $-$0.060 \\ 
  & (0.018) & (0.018) & (0.177) & (0.177) \\ 
  & & & & \\ 
 factor(forcapcat)yesforcap & 0.020$^{*}$ & 0.021$^{*}$ & $-$0.093 & $-$0.103 \\ 
  & (0.011) & (0.011) & (0.105) & (0.105) \\ 
  & & & & \\ 
 factor(cat)manufacture of beverages & $-$0.327$^{***}$ & $-$0.346$^{***}$ &  &  \\ 
  & (0.089) & (0.089) &  &  \\ 
  & & & & \\ 
 factor(cat)Sewerage & 2.578$^{***}$ & 2.541$^{***}$ &  &  \\ 
  & (0.358) & (0.361) &  &  \\ 
  & & & & \\ 
 factor(cat)tanning and dressing of leather; manufacture of luggage, handbags, & $-$0.108 & $-$0.132 &  &  \\ 
  & (0.091) & (0.091) &  &  \\ 
  & & & & \\ 
 factor(cat)Warehousing and storage & 0.412$^{*}$ & 0.445$^{*}$ &  &  \\ 
  & (0.236) & (0.238) &  &  \\ 
  & & & & \\ 
\hline \\[-1.8ex] 
Observations & 47,302 & 47,439 & 1,935 & 1,951 \\ 
R$^{2}$ & 0.761 & 0.757 & 0.530 & 0.513 \\ 
Adjusted R$^{2}$ & 0.761 & 0.757 & 0.519 & 0.509 \\ 
\hline 
\hline \\[-1.8ex] 
\textit{Note:}  & \multicolumn{4}{r}{$^{*}$p$<$0.1; $^{**}$p$<$0.05; $^{***}$p$<$0.01} \\ 
\end{tabular} 
\end{table} 
