| Variable types | Variable name | Symbol | Definition | |
| Dependent variable | EVA performance system | Average Rate of EVA | EVAR | Average EVA/Average total assets |
| Average Rate of MVA | MVAR | Average MVA/Average total assets | ||
| Independent variable | Sustainable growing | Average Rate of sustainable growing | SGR | Average equity growth ratio = Average retained earnings/Initial rights and interests |
| Government | Average contribution Rate of government | GOVR | Average (tax payment-tax refund received)/Average revenue | |
| Shareholders | Average net assets per share | HOLDER | Average total stockholders’ equity/Average number of ordinary shares | |
| Creditors | Average contribution Rate of creditors | CRER | Average total assets/Average total debts | |
| Suppliers | Average contribution Rate of suppliers | SUPR | Average purchase goods, service paid in cash/Average revenue | |
| Customers | Average contribution rate of customers | CONR | Average operating costs/Average revenue | |
| Staff | Average contribution rate of staff | STAR | Average employee salary payable/Average total assets | |
| Society | Average social contribution value per share | SOC | No disclosure is calculated at zero, disclosed is calculated according to the average of actual number | |
| Control variable | Enterprise scale | INA | Natural logarithm of the average of total assets | |
| Enterprise age | AGE | The number of the enterprises from its listing date until December 31, 2013 | ||
| Average size of the board of supervisors | JIANSHI | Average number of supervisors | ||
| Average proportion of independent directors | DUDONG | Average number of independent directors/The number of board of directors | ||
| Average equity balance degree | Z | The sum of shareholder’s stake from 2nd to 5th/Average proportion of the 1st shareholder | ||