Table 1.
Variables.
Table 2.
Descriptive statistical of variables.
Table 3.
Baseline regression results.
Table 4.
Results of the parallel trend test.
Fig 1.
Note: Fig 1 shows the results of the placebo test. Each data point represents the estimated effect under different hypothetical scenarios, with the horizontal axis representing the effect estimates. Notably, the effect estimates for all data points remain close to zero, indicating that no significant changes are observed in the placebo scenario, similar to the main intervention effect.
Table 5.
Results of the exclusion of other policies.
Table 6.
Balance test results.
Table 7.
Results of robustness tests.
Table 8.
The results of mediating mechanism test.
Table 9.
The results of Bootstrap Method and Sobel Test.
Table 10.
Impact of the NAMR on CSR dimensions (E, S, G).