Variables

Expected signs on CSR

Definitions

ASSET

+

Natural log of total asset

SALEGRW

?

Annual growth of the sales

TOBINQ

+

Tobin’s Q ratio calculated as the book value of assets minus the book value of equities plus the market value of equities, divided by the book value of assets

TOTRISK

―

Standard deviation of daily stock return in 1 year

RET

+

Annual stock return during the year