Variables	Definitions
Dependent variable
CSR	Sum of CSR_donation, CSR_environment and CSR_employee. The minimum value is zero and the maximum value is three for CSR. CSR_donation is a dummy variable equal to one if the amount of donation such as public welfare undertakings, contribution in kind and engineering labour service is greater than zero and zero otherwise. CSR_environment is a dummy variable equal to one if the amount of investment in pollution abatement is more than zero and zero otherwise. CSR_employee is a dummy variable equal to one if the expenditure for staff training is more than zero and zero otherwise.
Independent variable
ECPM	Indicator that equals one if the entrepreneur is a communist party member and zero otherwise.
Control variables
Gender	Indicator that equals one if the entrepreneur is a man and zero otherwise.
Age	Difference between the year filled in the questionnaire and the year of birth of the entrepreneur.
Education	The value of primary school education or below is zero. The value of junior high school or senior high school education is one. The value of college education or above is two.
Compensation	Natural logarithm of annual compensation of the entrepreneur (in units of ten thousand yuan).
PI	Political connection. Indicator that equals one if the entrepreneur is representative of National People’s Congress or members of the CPPCC and zero otherwise.
Establish	Difference between the year filled in the questionnaire and the year of registration of private enterprise.
Revenue	Natural logarithm of operation revenue for private enterprise (in units of ten thousand yuan).
DTA	The percentage of total debt to total asset.
Profit	The percentage of operating profit to operation revenue.
Staff number	Natural logarithm of the number of staff for private enterprise.
Industry	Twenty dummy variables were set according to the 20 industries involved in the questionnaire.
Region	Three dummy variables were set according to east, middle and west region.
Year	Calendar-year dummy.