Variable descriptions
| Variable | Abb | Measurement | Calculation |
|---|---|---|---|
| Stock return | SR | Financial performance | SR=((P1-Pt-1)/Pt-1))*100% |
| Current ratio | CR | Financial risk | Current assets/current liabilities |
| Quick ratio | QR | Financial risk | Quick assets/current liabilities |
| Liquidity ratio | LA | Financial risk | Liquid assets/total assets |
| Credit risk ratios | TL | Credit risk | Total loans/total assets |
| ST | Credit risk | Short-term debt/total assets | |
| LT | Credit risk | Long-term debt/total assets | |
| Total assets | S | Firm size | Natural log of total assets |
| Variable | Abb | Measurement | Calculation |
|---|---|---|---|
| Stock return | SR | Financial performance | SR=((P1-Pt-1)/Pt-1))*100% |
| Current ratio | CR | Financial risk | Current assets/current liabilities |
| Quick ratio | QR | Financial risk | Quick assets/current liabilities |
| Liquidity ratio | LA | Financial risk | Liquid assets/total assets |
| Credit risk ratios | TL | Credit risk | Total loans/total assets |
| ST | Credit risk | Short-term debt/total assets | |
| LT | Credit risk | Long-term debt/total assets | |
| Total assets | S | Firm size | Natural log of total assets |