Names

Class

${\widehat{\alpha }}_i$

${\widehat{\mu }}_i$

${\beta }_i$

$\text{ExceptionState=}$

${\widehat{\pi }}_i$

$Adj.R^2$

SSE Energy Index

HC

−0.00049*** (0.00019)

0.00098 (0.00071)

1.04953*** (0.01822)

0.00166 (0.07456)

0.01026 (0.00662)

0.747

CNI Oil &Gas Index

HC

−0.00076*** (0.0002)

0.0013 (0.0008)

0.86749*** (0.02102)

0.02979 (0.09154)

0.00916 (0.00596)

0.641

CSI All Share Electric Utilities Index

HC

−0.00057*** (0.00016)

0.00136 (0.00085)

0.76999*** (0.01995)

0.05935 (0.08031)

−0.00061 (0.00621)

0.652

CSI Coal & Consumable Fuels Index

HC

−0.00021 (0.0003)

0.00127 (0.00097)

1.23086*** (0.02716)

0.11226 (0.09481)

0.02115** (0.00919)

0.650

CSI Steel Index

HC

−0.00031 (0.00025)

0.00081 (0.00096)

1.11036*** (0.02651)

0.08334 (0.10241)

0.01078 (0.01248)

0.661

CSI China Mainland Low Carbon Economy Index

LC

0.00009 (0.00018)

0.00218** (0.00093)

0.94397*** (0.01844)

0.37402*** (0.09733)

0.03144 (0.02883)

0.720

CSI New Energy Index

LC

0.00017 (0.0002)

0.00252** (0.00108)

1.04883*** (0.02084)

0.48109*** (0.11274)

0.02925 (0.02984)

0.725

CNI ESG 300 Index

LC

−0.00001 (0.0001)

−0.00016 (0.00027)

1.02625*** (0.01057)

0.03895 (0.03075)

−0.00432 (0.00692)

0.935

CSI Atmospheric

Protection Index

LC

−0.00069** (0.00027)

0.00079 (0.00075)

0.96143*** (0.02312)

0.20423** (0.09025)

0.0198 (0.03466)

0.707

CSI Environmental Protection Industry Index

LC

−0.00013 (0.00014)

0.00218** (0.0001)

0.98537*** (0.0167)

0.37997*** (0.09436)

0.0015 (0.01349)

0.786