Table 7 Description of variable... | Emerald Publishing

Table 7

Description of variable measurements and descriptive statistics

Variable name	Variable definition	Descriptive statistics
Variable name	Variable definition	Average	Standard deviation
Indpart	Industrial Digitalization Participation Indicator System Comprehensive score	0.41	0.16
JROA	Net profit margin on total assets, net profit/total assets	0.05	0.08
ROA	Return on assets EBIT/total assets	0.34	0.72
ROE	Return on net assets, net profit/shareholders' equity	0.05	0.14
Size	Total assets +1 takes the natural logarithm	22.27	1.32
Corporate ownership	Equity nature of state-owned enterprises, assigned a value of 1, the rest is 0	0.31	0.46
Growth	Growth rate of revenue	0.06	0.08
Liquidity	Net cash flows from operating activities/total assets	0.14	0.36
Fixed assets ratio	Net fixed assets as a percentage of total assets	0.20	0.15
Intangible assets ratio	Net intangible assets as a percentage of total assets	0.04	0.05
Risk	BETA value – one year outstanding market capitalization weighted	1.08	0.36
Market power	Individual Stock Lerner Index	0.14	0.14
Industry competitiveness	1 less industry Herfindahl index	0.88	0.13
Industry growth potential	Revenue growth rate of the industry	0.28	0.70
Market index	Using Fan et al.'s marketization index to measure	10.51	1.68

Variable name	Variable definition	Descriptive statistics
Variable name	Variable definition	Average	Standard deviation
Indpart	Industrial Digitalization Participation Indicator System Comprehensive score	0.41	0.16
JROA	Net profit margin on total assets, net profit/total assets	0.05	0.08
ROA	Return on assetsEBIT/total assets	0.34	0.72
ROE	Return on net assets, net profit/shareholders' equity	0.05	0.14
Size	Total assets +1 takes the natural logarithm	22.27	1.32
Corporate ownership	Equity nature of state-owned enterprises, assigned a value of 1, the rest is 0	0.31	0.46
Growth	Growth rate of revenue	0.06	0.08
Liquidity	Net cash flows from operating activities/total assets	0.14	0.36
Fixed assets ratio	Net fixed assets as a percentage of total assets	0.20	0.15
Intangible assets ratio	Net intangible assets as a percentage of total assets	0.04	0.05
Risk	BETA value – one year outstanding market capitalization weighted	1.08	0.36
Market power	Individual Stock Lerner Index	0.14	0.14
Industry competitiveness	1 less industry Herfindahl index	0.88	0.13
Industry growth potential	Revenue growth rate of the industry	0.28	0.70
Market index	Using Fan et al.'s marketization index to measure	10.51	1.68