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Table 5 CSD test

From: Threshold effects of environmental regulation types on green investment by heavily polluting enterprises

Ā 

Pesaran test

Friedman test

Test of cross-sectional independence

2.452*** (0.009)

25.140*** (0.002)

Average absolute value of the off-diagonal elements

0.286

0.224

Freesā€™ testā€‰=ā€‰0.513

Alphaā€‰=ā€‰0.10: 0.1612

Alphaā€‰=ā€‰0.05: 0.2371

Alphaā€‰=ā€‰0.01: 0.3502