Table 1.

List of variables

VariablesDefinition
GIGreenhouse gas intensity, corporate greenhouse gas emissions per sales (tCO2eq/KRW)
NP_lag2Shareholding ratio of the National Pension Fund, lagged by two years (%)
ln(TA)The natural logarithm of total assets
ROAReturn on assets (%)
LEVLeverage (%)
ATRAsset turnover ratio (%)
Tobin’s QTobin’s Q
FARFixed asset ratio (%)
MEMNumber of directors on the board.
INDEPRatio of independent directors on the board (%)
DUALWhether the CEO is also chairman of the board (0 = no, 1 = yes)
GDIVRatio of female directors on the board (%)
Source(s): Authors’ own work

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