Table 1 Definition of variables.
From: Academic background of senior executives and enterprise digital transformation
Type of variable | Name of variable | Definition of variables |
|---|---|---|
Explained variable | DT | The logarithm of the frequency of appearance of keywords related to the digital transformation of enterprise in the annual report, plus 1 |
Explaining variable | r_xsgg | The ratio of academic executives. The number of executives with academic experience/total number of people on the executive team |
isxsgg | Executives with or without academic experience. A value of 1 is assigned if executives with academic experience serve as members of the executive team, and a value of 0 is assigned otherwise. | |
Mediating variable | r_yftr | The ratio of R&D expenditure to operation revenue of the enterprise |
Moderating variable | lerner | Lerner’s index of the enterprise after deflation of the industry average |
Control variable | Insize | The natural logarithm of assets at the end of the period |
Lev | The ratio of total liabilities to total assets at the end of the period | |
Board | The natural logarithm of the number of people in the board of directors | |
Roa | The ratio of net profit to total assets at the end of the period | |
CFO | The ratio of net cash flow generated from operating activities to total assets at the end of the period | |
Growth | (Operation revenue of the current year minus revenue of the previous year)/Revenue of the previous year | |
Shrcr5 | The sum of the shareholding ratios of the top five shareholders | |
Sr | The number of shares held by senior executives/Paid-up capital | |
Both | Takes a value of 1 if the Chairperson and the General Manager are the same person and of 0 otherwise. | |
Age | The current year-the year of enterprise establishment | |
year | Year | |
Industry | Industry |
