|
| Cash | Cash flow level | term-end currency fund/total assets |
| Growth | Business revenue increase rate | (year-end business revenue-year-beginning business revenue)/year-beginning business revenue | |
| Ret | annual return on stock | Annual Return on stock (taking into account cash dividend reinvestment) | |
| ROA | Return on total assets | Net profits/total assets | |
| Industry | Industrial dummy variable | Referring to SCRC (2016), it divides 19 industries and sets up 17 dummy variables excluding the financial industry | |
| Year | Annual dummy variable | It altogether sets up 7 dummy variables |