Table 1 Variable definition Variables... | Emerald Publishing

Table 1

Variable definition

Variables	Definition
Family	Dummy variable which is set at 1 when companies are family businesses and 0 otherwise
ESG	The ESG combined score provides a rounded and comprehensive evaluation of a company’s ESG performance based on the reported information in the ESG pillars, with ESG controversies overlay captured from global media sources. The score ranges from 0–100, with higher values associated to more ESG
ENV	Refinitiv’s environment pillar score is the weighted average relative rating of a company based on the reported environmental information and the resulting three environmental category scores
SOC	Refinitiv’s social pillar score is the weighted average relative rating of a company based on the reported social information and the resulting four social category scores
CG	Refinitiv’s governance pillar score is the weighted average relative rating of a company based on the reported governance information and the resulting three governance category scores
TA	Natural logarithm of total assets
Equity	Natural logarithm of equity
Leverage	Firms’ leverage
ROA	The net income divided by total assets
1st generation	Dummy variable which is set at 1 for the first generation of family business and 0 for nonfamily businesses
2nd, 3rd, 4th generation	Dummy variable which is set at 1 for the second, third and fourth generation of family businesses and 0 for nonfamily businesses

Variables	Definition
Family	Dummy variable which is set at 1 when companies are family businesses and 0 otherwise
ESG	The ESG combined score provides a rounded and comprehensive evaluation of a company’s ESG performance based on the reported information in the ESG pillars, with ESG controversies overlay captured from global media sources. The score ranges from 0–100, with higher values associated to more ESG
ENV	Refinitiv’s environment pillar score is the weighted average relative rating of a company based on the reported environmental information and the resulting three environmental category scores
SOC	Refinitiv’s social pillar score is the weighted average relative rating of a company based on the reported social information and the resulting four social category scores
CG	Refinitiv’s governance pillar score is the weighted average relative rating of a company based on the reported governance information and the resulting three governance category scores
TA	Natural logarithm of total assets
Equity	Natural logarithm of equity
Leverage	Firms’ leverage
ROA	The net income divided by total assets
1st generation	Dummy variable which is set at 1 for the first generation of family business and 0 for nonfamily businesses
2nd, 3rd, 4th generation	Dummy variable which is set at 1 for the second, third and fourth generation of family businesses and 0 for nonfamily businesses

Note(s):

The sources of the variables used in our analysis and described in the present table are: Zephyr Bureau Van Dijk, Orbis Bureau Van Dijk, Thomson Reuters Eikon and Capital IQ

Source(s): Authors’ own work