## 3 Results
### Results of Regression Analysis
#### 3.2.1 Results of Total Sample
Joint contracts have a higher possibility of 4.3% to apply green award criteria. The coefficient of the contract value implies that a 1% growth in contract value will increase the probability of the contract being green by 0.48%. Columns (5) and (6) can be used as creditability tests of the main Probit regression. We use a Logit regression in Column (5), which is a similar method for binary dependent variable analysis, and the estimated marginal effects are similar to those in Probit regression. In column (6), normal standard deviation is applied, rather than a robust one. Standard deviation in column (6) has trivial differences with those in column (3), which is an affirmation of our main Probit regression. \begin{table}
\begin{tabular}{c c c c c c c} \hline \hline \multirow{2}{*}{**Regressors**} & \multirow{2}{*}{ \begin{tabular}{c} **(1)** \\ **Probit-1** \\ \end{tabular}  } & \multirow{2}{*}{ \begin{tabular}{c} **(2)** \\ **Marginal** \\ **Effect** \\ \end{tabular}  } & \multirow{2}{*}{ \begin{tabular}{c} **(3)** \\ **Probit-2** \\ \end{tabular}  } & \multirow{2}{*}{ \begin{tabular}{c} **(4)** \\ **Marginal** \\ **Effect-Probit** \\ \end{tabular}  } & \multirow{2}{*}{ \begin{tabular}{c} **(5)** \\ **Marginal** \\ **Effect-Logit** \\ \end{tabular}  } & \multirow{2}{*}{ \begin{tabular}{c} **(6)** \\ **Probit-3** \\ \end{tabular}  } \\ \hline \multicolumn{8}{c}{**Contracts and procedures**} \\ \hline \multirow{2}{*}{OPE} & \( \begin{matrix}-0.57\ ***\\ (0.031)\end{matrix} \) & \( \begin{matrix}-0.14\ ***\\ (0.0073)\end{matrix} \) & \( \begin{matrix}-0.26\ ***\\ (0.0034)\end{matrix} \) & \( \begin{matrix}-0.056\ ***\\ (0.0073)\end{matrix} \) & \( \begin{matrix}-0.055\ ***\\ (0.0070)\end{matrix} \) & \( \begin{matrix}-0.055\ ***\\ (0.035)\end{matrix} \) \\ \hline \begin{tabular}{c} Contract \\ value \\ \end{tabular}  & \( \begin{matrix}0.0085\ **\\ (0.0039)\end{matrix} \) & \( \begin{matrix}0.0021\ **\\ (0.00095)\end{matrix} \) & \( \begin{matrix}0.022\ ***\\ (0.0039)\end{matrix} \) & \( \begin{matrix}0.0048\ ***\\ (0.00084)\end{matrix} \) & \( \begin{matrix}0.0043\ ***\\ (0.00083)\end{matrix} \) & \( \begin{matrix}0.022\ ***\\ (0.0039)\end{matrix} \) \\ \hline \multirow{2}{*}{Product} & \( \begin{matrix}-0.075\\ (0.094)\end{matrix} \) & \( \begin{matrix}-0.018\\ (0.023)\end{matrix} \) & \( \begin{matrix}-0.029\\ (0.029)\end{matrix} \) & \( \begin{matrix}-0.0063\\ (0.020)\end{matrix} \) & \( \begin{matrix}-0.0058\\ (0.020)\end{matrix} \) & \( \begin{matrix}-0.029\\ (0.019)\end{matrix} \) & \( \begin{matrix}-0.029\\ (0.094)\end{matrix} \) \\ \hline \multirow{2}{*}{Service} & \( \begin{matrix}-0.022\\ (0.091)\end{matrix} \) & \( \begin{matrix}-0.0054\\ (0.022)\end{matrix} \) & \( \begin{matrix}-0.066\\ (0.089)\end{matrix} \) & \( \begin{matrix}-0.014\\ (0.019)\end{matrix} \) & \( \begin{matrix}-0.015\\ (0.019)\end{matrix} \) & \( \begin{matrix}-0.066\\ (0.091)\end{matrix} \) \\ \hline \begin{tabular}{c} Framework \\ agreement \\ \end{tabular}  & \( \begin{matrix}0.15\ ***\\ (0.033)\end{matrix} \) & \( \begin{matrix}0.036\ ***\\ (0.008)\end{matrix} \) & \( \begin{matrix}-0.14\ ***\\ (0.035)\end{matrix} \) & \( \begin{matrix}-0.031\ ***\\ (0.0076)\end{matrix} \) & \( \begin{matrix}-0.031\ ***\\ (0.0074)\end{matrix} \) & \( \begin{matrix}-0.14\ ***\\ (0.035)\end{matrix} \) \\ \hline \multirow{2}{*}{GPA} & \( \begin{matrix}0.45\ ***\\ (0.025)\end{matrix} \) & \( \begin{matrix}0.11\ ***\\ (0.0061)\end{matrix} \) & \( \begin{matrix}0.072\ **\\ (0.030)\end{matrix} \) & \( \begin{matrix}0.016\ **\\ (0.0065)\end{matrix} \) & \( \begin{matrix}0.016\ **\\ (0.00066)\end{matrix} \) & \( \begin{matrix}0.072\ **\\ (0.030)\end{matrix} \) \\ \hline \ \begin{tabular}{c} Funded by \\ EU \\ \end{tabular}  & \( \begin{matrix}-0.45\ ***\\ (0.039)\end{matrix} \) & \( \begin{matrix}-0.11\ ***\\ (0.0095)\end{matrix} \) & \( \begin{matrix}-0.10\ **\\ (0.044)\end{matrix} \) & \( \begin{matrix}-0.022\ **\\ (0.0095)\end{matrix} \) & \( \begin{matrix}-0.019\ *\\ (0.010)\end{matrix} \) & \( \begin{matrix}-0.10\ **\\ (0.045)\end{matrix} \) \\ \hline