Table 2 Evaluation index system of the listed CBEC company’s development.
From: Empowering China’s cross-border e-commerce: high-quality development explored through fsQCA
First-level index | Second-level index | Third-level index | Index description | Calculation formula |
|---|---|---|---|---|
Financial performance evaluation of listed firms | Profitability | Return on equity (ROE) | Positive | Net profit/shareholder’s equity |
Return on assets (ROA) | Positive | Net profit/total assets | ||
Return on invested capital (ROIC) | Positive | NOPAT/invested capital | ||
Operational capability | Accounts receivable turnover | Positive | Net sales/average accounts receivable | |
Inventory turnover | Positive | Net sales/average current assets | ||
Total asset turnover | Positive | Net sales/average total assets | ||
Growth capability | Total asset growth rate | Positive | (Total assetsend − total assetsstart)/total assetsstart | |
Revenue growth rate | Positive | (Revenueend − revenuestart)/revenuestart | ||
Sustainable growth rate | Positive | ROE*(retained earnings/total assets) | ||
Debt repayment capability | Current ratio | Moderation | Current assets/current liabilities | |
Quick ratio | Moderation | Current assets-inventory/current liabilities | ||
Debt-to-assets ratio | Moderation | Total liabilities/total assets |
