文章预览
文献来源 LongTimePrefpvc is a dummy variable. This variable is assigned a value of one for enterprises residing in provinces with a long-term time preference above the median, indicating that citizens in these areas exhibit a lower time discounting factor, thus favoring deferred gratification over immediate reward. The “future orientation” indicator is utilized as a proxy to estimate the level of time preference among enterprises in each province. Specifically, the indicator developed by 赵向阳等(2015) is employed, describing the extent to which the community motivates its citizens to engage in future-oriented behaviors, including planning, future investment, and the postponement of gratification. A higher “future orientation” indicator is associated with a diminished preference for immediate time. HighProsocialpvc is a dummy variable that equals one if enterprises are in provinces with prosocial behavior higher than the median and zero otherwise. Specifically, we use
………………………………
