Variables

Definitions

Lnfee

Natural logarithm of audit costs

In-number

Number of internet business model disclosures

In-behave

Action index, 0, 1, 2, 3, 4 distribution

FI

Investment in financial instruments, Transactional financial assets + derivative financial assets + net loans and advances + net available-for-sale financial assets + net held-to-maturity investments + net investment real estate + net repurchases)/total assets of the consolidated statement

KZK

Parent company long-term equity investment, parent company long-term equity investment/consolidated statement total assets

KZ

Parent company controlled investment, (Transactional financial assets + derivative financial assets + net loans and advances + net available-for-sale financial assets + net held-to-maturity investments + net investment real estate + net repurchases)/Total assets in the consolidated statement

Behave*FI

Intersection of In-behave and FI

Behave*KZK

Intersection of In-behave and KZK

Behave*KZ

Intersection of In-behave and KZ

Num*FI

Intersection of In-number and FI

Num*KZK

Intersection of In-number and KZK

Num*KZ

Intersection of In-number and KZ

Size

Company size, natural logarithm of company total assets

Big 4

Dummy variable, the accounting firm is 1 for the Big Four, otherwise it is 0

Lever

Financial leverage, total liabilities/total assets

Inv

Proportion of inventory, total inventory/total assets

Rec

Percentage of accounts receivable, total accounts receivable/asset

Tunnel

Percentage of other accounts receivable, other accounts receivable/total assets

Growth

Sales growth rate

Roe

Return on equity, profit after tax/total equity

Loss

Dummy variable with a loss of 1, otherwise 0