Definition of variables used in the estimation
| Variable | Definition | Data source |
|---|---|---|
| Brand Value | Natural log of bank brand value | Brand Finance |
| Bank size | Natural log of the total assets of bank i in year t | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Bank age | Difference between a given year and the date of the company's incorporation | Our elaboration on data retrieved from Bank Focus |
| Business model | Ratio between loans and total assets of bank i in year t | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Intangible assets | Ratio between intangible assets to total assets of bank i in year t | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Asset growth | Growth ratio of total assets of bank i in year t | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Profitability | Ratio between net interest margin to average total assets of bank i in year t | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Credit risk | Natural log of the ratio between NPLs and gross loans of bank i in year t | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| RWA/TA | Ratio between risk-weighted assets to total assets of bank i in the year t | Bank Focus |
| ESG score | ESG score of bank i in year t | MSCI database |
| Environmental score | Environmental score of bank i in year t | MSCI database |
| Social score | Social score of bank i in year t | MSCI database |
| Governance score | Governance score of bank i in year t | MSCI database |
| GDP | GDP growth | World Bank database |
| Variable | Definition | Data source |
|---|---|---|
| Brand Value | Natural log of bank brand value | Brand Finance |
| Bank size | Natural log of the total assets of bank | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Bank age | Difference between a given year and the date of the company's incorporation | Our elaboration on data retrieved from Bank Focus |
| Business model | Ratio between loans and total assets of bank | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Intangible assets | Ratio between intangible assets to total assets of bank | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Asset growth | Growth ratio of total assets of bank | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Profitability | Ratio between net interest margin to average total assets of bank | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| Credit risk | Natural log of the ratio between NPLs and gross loans of bank | Our elaboration on bank balance sheet data retrieved from Bank Focus |
| RWA/TA | Ratio between risk-weighted assets to total assets of bank | Bank Focus |
| Environmental score | Environmental score of bank | |
| Social score | Social score of bank | |
| Governance score | Governance score of bank | |
| World Bank database |
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