| Symbol | Definition of variables |
| Perf | the weighted average return on equity after deducting non-recurring gains and losses |
| ΔMA/MA | the growth rate of equity investment |
| ΔFix/Fix | the growth rate of fixed asset investment |
| ΔInt/Int | the growth rate of intangible investment |
| Size | the enterprise Size at the end of the term |
| Lev | financial leverage at the end of the term |