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Table 1.

Summary of variables.

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Table 2.

Descriptive statistics.

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Fig 1.

Environmental regulations and performance levels in provinces.

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Fig 2.

Environmental regulations and performance in the industry.

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Fig 3.

Environmental regulations and performance according to pollution degree.

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Table 3.

Relevance statistics.

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Table 4.

Environmental regulations and companies financial performance.

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Table 5.

Environmental regulations and companies non-financial performance.

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Table 6.

Robustness test.

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