Variable | Code | Definition |
Market value | MV | The number of shares at the end of the period multiplied by the price of per share |
Environmental investment | EI | Increased amount of Environmental Protection Projects in Construction Projects |
Cost of equity | R | Calculated by PEG model and OJN model |
Net income | NI | Current net profit reported by the enterprise |
Book value of equity | BV | Book value of equity at the end of the current period |
Dividends | DIV | Cash dividends declared by enterprises in the current period |
Growth | GROWTH | (Current Operating Revenue − Last Operating Revenue)/Last Operating Revenue |
Loss | LOSS | If the current net profit is less than 0, make LOSS = 1, otherwise = 0 |
Intangible assets | INTAN | The proportion of intangible assets to total assets at the end of the current period |
Leverage | LEV | The ratio of end of period liabilities to total assets |
Book-to-market | BP | The ratio of end of period net assets to end of period market value |
Size | SIZE | Logarithm of total assets at the end of period |
Return on Assets | ROA | Ratio of net profit to average total assets |