Table 1 The abbreviation and definition of variables
From: Board gender diversity and corporate social responsibility
Variable | Abbreviation | Definition |
|---|---|---|
Explained Variable-CSR performance | ||
 Current performance of CSR | csrdummy | A dummy variable of the current performance of CSR (csrdummy), which measures the performance of a firm based on the list of firms that have won the Common Wealth’s "Corporate Citizenship" and the Global Views Monthly’s "CSR Award". If a firm wins either or both of the awards in a specific year, the value of csrdummy is equal to 1 in that year, otherwise, if the firm does not win either award, the value csrdummy is 0. |
 Cumulative performance of CSR | csrcumu | The total number of years a firm has been win either or both of the awards (either award is sufficient). For example, if a firm has been win either or both of the awards for four years (missing one year) at a given year, the value of csrcumu is set to 4. |
 Continuous performance of CSR | csrcont | Set to 1 if a firm wins either or both of the awards every year during the data period (14 years). If the firm fails to win either award in any given year during the data period, csrcont is set to 0. |
 Overlap performance of CSR | csrovlp | Set to 1 if a firm wins both awards in a specific year. If the firm wins only one award or none at all in a specific year, csrovlp is set to 0. |
 Social contribution value | scv | The sum of interest expense, tax , employee salary and after tax net income, and then take the natural logarithm |
 Social return on assets | sroa | (Social contribution value / total assets)*100% |
 Social contribution value per share | scvps | (Social contribution value / number of shares outstanding) |
Main explanatory variable-Board Gender Diversity | ||
 Female director dummy | fdd | A dummy variable indicating whether the firm has female directors, with a value of 1 if the firm has at least one female director and 0 if it has none |
 The number of female director | fdn | The number of female directors |
 Female director ratio | fdr | The proportion of female directors to the total number of board members |
 Female independent director dummy | fidd | A dummy variable indicating whether the firm has female independent directors, with a value of 1 if the firm has at least one female independent director and 0 if it has none |
 Blau Index of Board Gender Diversity | fdblau | One minus the sum of the squares of the female director ratio and the male director ratio |
Control variable | ||
 Firm size | asset | The total amount of assets and then takes the natural logarithm |
 Debt ratio (%) | debtr | (Total liabilities divided by total assets)×100% |
 Returns on assets (%) | roa | Earnings before interest and tax / total asset |
 Institutional investors’ shareholdings (%) | insthod | (number of shares hold by institutional investors / number of shares outstanding) * 100% |
 Family control | family | If the type of control is single-family controlled, then it is 1, and 0 otherwise. |