被解释变量：CSR

(1)

(2)

(3)

Infor

0.168^***

0.101^***

0.082^***

(0.013)

(0.012)

(0.016)

Size

4.282^***

4.227^***

(0.140)

(0.149)

Roa

4.396

3.664

(3.191)

(3.471)

Leve

−5.214^***

−5.808^***

(1.009)

(1.090)

Indd

−1.365

−1.076

(2.553)

(2.710)

Age

−0.032

−0.039

(0.032)

(0.035)

Scale

15.525^**

(6.633)

Effect

−6.925

(8.074)

Edu

2.641

(5.609)

Fdi

0.063

(0.112)

Per_gdp

0.606

(0.463)

_cons

13.391^***

−72.790^***

−78.790^***

(1.373)

(3.121)

(5.977)

N

4868.000

4865.000

4301.000

r2

0.178

0.349

0.354

Ins

YES

YES

YES

year

YES

YES

YES

City

YES

YES

YES