Table 1 Definition of variables and calculation method.
PSRO framework | Variable name | Symbols | Variable definition |
|---|---|---|---|
Epidemic pressure (P) | Number of confirmed cases | Cc | Number of confirmed outbreaks of company location (90 days) |
Redundant resources(S) | Unabsorbed redundancy | Us | Current assets/Current liabilities |
Absorbed redundancy | As | Administrative expenses/Sales revenue | |
Potential redundancy | Ps | Total liabilities/Total assets - Industry median | |
Corporate governance(S) | Top three executive compensation | Sal | Top three executive salaries with two periods of lagging |
Percentage of independent directors | Ind | Percentage of independent directors lagging two periods | |
Outbreak response(R) | Corporate social responsibility | CSR | Hexun CSR composite score with one period lag |
Configuration results(O) | Organizational resilience | Or | Historical stock price volatility within 90 days of the outbreak |
