| Variable type | Variable name | Variable symbols | Variable definitions |
| Dependent variable | Accounting surplus for the next period | Earni,t+1 | Return on assets for year t+1, being net profit for the following period/average total assets for the following period |
| Independent variables | Current accounting surplus | Earni,t | Return on assets for year t, being net profit for the period/average total assets for the period |
|
| Green Technology Innovation | GT | Fitting the three major green technology innovation indicators using the entropy method |
| Adjustment variable | Green Financial Development | GF | Fitting the five major green finance indicators using the entropy method |
| Control variables | Company Size | Size | Natural logarithm of total assets |
|
| Company Growth | Growth | Increase in operating income for the year/Operating income for the previous year |
|
| Capital Intensity | Capint | Total Assets/Operating Income |
|
| Concentration of shareholding | Top | Percentage of shareholding of the largest shareholder |
|
| Years | Year | Annual dummy variables |
|
| Industries | Industry | Industry dummy variables |
|
| Provinces | Province | Province dummy variables |