S.No. | Variable name | Description | Measurement |
Dependent variables |
|
| |
1 | Tobin’s Q | market value of equity + book value of short-term and long term debt divided by total assets (FA + INV + CA) | ratio |
2 | ROA | operating profit before depreciation and amortization divided by total assets | ratio; considered as ratio of PBDITA to total assets |
3 | ROE | operating profit before depreciation and amortization divided by total equity | ratio; considered as ratio of PBDITA to total equity |