Variable definition table
| Type | Variable | Symbol | Meaning |
|---|---|---|---|
| Explained variable | Green innovation | GI | The natural logarithm of the number of green patent applications and the sum of 1 |
| Explanatory variable | ESG expression | ESG | 1–9 from inferior to good according to ESG ratings |
| Regulated variable | Government regulation | Gov | If it is the list of national key monitoring enterprises, the value is 1, otherwise it is 0 |
| Controlled variable | Enterprise age | Age | The natural logarithm of the number of years |
| scale | Size | The natural logarithm of the total corporate assets | |
| Asset–liability ratio | Lev | Total liabilities/total assets | |
| Enterprise growth ability | Growth | Increase rate of business revenue | |
| Director structure | Indep | Number of independent directors/directors | |
| Enterprise value | TobinQ | The Tobin Q value of the enterprise | |
| Two jobs in one | Duality | The chairman and the general manager are the same person 1, otherwise it is 0 | |
| Research input | R&D | R&D expenditure/operating revenue | |
| A particular year | Year | Virtual variable, 1 at this period, and 0 otherwise | |
| Trade | Ind | Virtual variable, 1 in the industry, otherwise 0 |
| Type | Variable | Symbol | Meaning |
|---|---|---|---|
| Explained variable | Green innovation | GI | The natural logarithm of the number of green patent applications and the sum of 1 |
| Explanatory variable | ESG expression | ESG | 1–9 from inferior to good according to ESG ratings |
| Regulated variable | Government regulation | Gov | If it is the list of national key monitoring enterprises, the value is 1, otherwise it is 0 |
| Controlled variable | Enterprise age | Age | The natural logarithm of the number of years |
| scale | Size | The natural logarithm of the total corporate assets | |
| Asset–liability ratio | Lev | Total liabilities/total assets | |
| Enterprise growth ability | Growth | Increase rate of business revenue | |
| Director structure | Indep | Number of independent directors/directors | |
| Enterprise value | TobinQ | The Tobin | |
| Two jobs in one | Duality | The chairman and the general manager are the same person 1, otherwise it is 0 | |
| Research input | R&D | R&D expenditure/operating revenue | |
| A particular year | Year | Virtual variable, 1 at this period, and 0 otherwise | |
| Trade | Ind | Virtual variable, 1 in the industry, otherwise 0 |
Source(s): Developed by the authors
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