The dynamic role of film and drama industry, green innovation towards the sustainable environment in China: fresh insight from NARDL approach

Figures & data

Figure 1. Revenue wise top ten leading world's box office markets in 2020.

Source: https://www.statista.com/statistics/243180/leading-box-office-markets-workdwide-by-revenue/

Table 1. Variable's description and data source.

Variable name	Variable symbol	Description	Measurement	Data source
Sustainable environment	CO2	Consumption-based carbon emission	Metric tone	WDI
Film and Drama industry	F&D	Stocks of Film and drama production companies	Index prices	DataStream Database
Green- Innovations	GIN	green patent	Number of a patent registered (World Intellectual Property Organization)	OECD
Economic growth	GDP	Genuine Gross Product per Capita	US Dollar	WDI

Table 2. Results of descriptive statistics.

Variables	F&D	GIN	GDP	CO2
Mean	2.558	3.489	5.621	2.914
Minimum	1.641	2.721	4.954	1.086
Maximum	2.976	5.623	6.057	3.552
Std. Dev.	0.548	1.025	0.875	1.128
Jarque-Bera	12.535	27.367	19.485	18.943
Probability	0.000	0.000	0.000	0.000

Source: Author Estimation.

Table 3. Results of Unit root test.

Variables	ADF unit root test				PP unit root test
	I(0)		I(1)		I(0)		I(1)
	C	C&T	C	C&T	C	C&T	C	C&T
F&D	−0.368	−0.452	−8.056***	−7.685***	−0.455	−0.421	−6.625***	−6.058***
GIN	−1.059	−1.328	−6.365***	−6.412***	−1.215	−1.282	−5.985***	−6.156***
GDP	−0.892	−0.742	−3.985***	−4.059***	−0.952	−1.056	−5.889***	−5.217***
CO2	−1.217	−1.298	−4.673***	−4.241***	−1.699	−1.726	−8.059***	−7.368***

Note: ^*** represents the level of significance at 1%.

Source: Author estimations.

Table 4. Zivot-Andrews structural break trended unit root test.

Variable	At level		At 1st difference
	T-statistics	Time break	T-statistics	Time break
F&D	−0.596 (1)	2005	−5.227 (1)***	2015
GIN	−1.034 (1)	2017	−6.365 (1)***	2019
GDP	−0.567 (1)	2008	−8.671 (1)***	2007
CO2	1.257 (1)	2012	−5.802 (1)***	2018

Note: Lag order shown in parenthesis.

*** Represents significance at 1% level.

Source: Authors' estimation.

Table 5. Results of NARDL bound testing cointegration.

Model	F-statistics	Upper bond	Lower bond
CO2/(F&D_POS, F&D_NEG, GIN_POS, GIN_NEG, GDP, GDP^2)	58.694
Critical values
10%		4.463	1.735
5%		5.433	2.231
1%		6.873	2.802

Source: Author estimations.

Table 6. Findings of long-run coefficients.

Variables	Coeff.	t-stats	Prob.
GDP	0.368	8.056	0.000
GDP^2	−0.168	−5.356	0.000
F&D_NEG	0.255	4.684	0.000
F&D_POS	−0.186	−6.039	0.000
GIN_NEG	0.307	−5.571	0.000
GIN_POS	−0.285	−11.059	0.000

Dependent variable: CO₂ emission.

Source: Author estimation.

Table 7. Findings of diagnostic tests.

Diagnostic test	Problem	P-value	Status
LM test	Serial correlation	0.597	Serial correlation does not exist
Breusch-Pagan-Godfrey	Heteroscedasticity	0.462	There is no issue of heteroscedasticity
Ramsey RESET test	Model specification	0.409	Model specification is correct
VIF	Multicollinearity	3.085	There is no problem with multicollinearity

Source: Author estimation.