Explained variable


RISK, risk-weighted assets accounted for the proportion of total assets, %

Explanatory variable

Nature of the Largest Shareholder

FSN, if it is the local bureau of finance, the value is 1

Shareholding Concentration

FC, the first big shareholder control relative to the top ten shareholders, %

Board Size

BS, the number of the board of directors

Independent Directors Proportion

IDP, the independent directors in the proportion of the board of directors, %

Executive Compensation

EC, the mean compensation of the executives

CEO Shareholding Rate

CSR, CEO share-holding in the proportion of the total shares, ‰

Control variable

The local GDP

GDP, %