name | symbol | descriptions |
asset size | size | ln(total assets) |
accounting performance | roa | net profit/total assets |
capital intensity | ci | total assets/operating income |
capital composition | lev | total liabilities/total assets |
growth | growth | (total assetst+1 − total assetst)/total assetst |
age | age | 2017—the year the company was established |
number of managerial holdings | mngmhldn | ln(Σmanagerial holdings) |
Tobin’s q | tobin | (number of tradable shares * shares + non-tradable or restricted stock * net assets per share + book value of liabilities)/total assets |
state-owned enterprises dummy | soe | Value is 1 if an enterprise is state-owned enterprises, otherwise is 0 |