Variable type | factor | index | forecast |
Explanatory variables | Local government finances | GDP per capita (GDP avg) | − |
public finance income (REVENUE gov) | − | ||
Control variable | Macro factors | GDP growth rate (GDP growth) | + |
CPI growth rate (CPI growth) | − | ||
r007(ROO7) | + | ||
Bond factors | size (SIZE) | − | |
period (PERIOD) | − | ||
Issuer factors | total operating revenue (REVENUE issuer) | − | |
Roa (ROA) | − | ||
total asset turnover (TURNOVER) | − | ||
debt ratio (LEVERAGE) | + | ||
virtual variable | Underwriter factors | lead underwriting reputation index (d1) | − |