"Variable Types";Names;Symbols;Definitions
"Dependent variable";"Return on assets";ROA;"Net profit / Total assets"
"Independent variable";"Corporate environmental responsibility";ESG;"ESG rating provided by Sino-Securities Index Information Service Co., Ltd."
"Control variables";"Company size";Size;"Natural logarithm of total assets"
"Financial leverage";Lev;"(Net profit + Income tax expenses + Financial expenses) / (Net profit + Income tax expenses)"
"Operating cash flow";Cashflow;"Net cash flow from operating activities / Total assets"
"Dual role";Dual;"Equals 1 if the chairman of the board doubles as the CEO; otherwise, 0"
"Shareholding ratio of the largest shareholder";TOP1;"The number of shares held by the largest shareholder / Total number of shares"
"Company age";Age;"Natural logarithm of the company’s age"