| Pronoun | Meaning |
| CSR | Whether to publish CSR report |
| po-l | Political association level |
| lis | Listed exchange |
| ind | industry |
| age | Business age |
| size | Business scale |
| roa | Financial status |
| rp | Financial status and political association |
| ap | Business age and political connections |
| m-val | The m value reported by CSR |
| tot-score | Total score of CSR report |
| mar-in | Regional marketization index |
| m-p | Regional marketization index and political association |