Variable | Definition | Measurement |
ETR | Effective Tax Rate | Total income divided by pretax income |
BCOMP | Board Composition | the number of outside directors divided by total number of directors |
BINDP | Board Independence | % of independent directors on the board |
CEOD | CEO Duality | if the CEO is also chairman of the board, 0 otherwise 1 |
ROA | Return on Assets | Operating income divided by total assets. |
FSZE | Firm Size | The natural log of the book value of the total asset |