Table 2. Variable description Variable... | Emerald Publishing

Table 2.

Variable description

Variable	Measurement
${R E V_D R O P}_{i}$	$= {{(REVENUE}_{Q 2 2020} - {REVENUE}_{Q 1 2020}) / {REVENUE}_{Q 1 2020}} \times - 1$
${M A R G I N_D R O P}_{i}$	$= ({MARGIN}_{Q 2 2020} - {MARGIN}_{Q 1 2020}) \times - 1$
${S . P R I C E_D R O P}_{i}$	$= {{(S.PRICE}_{Q 1 2020} - {S.PRICE}_{Q 4 2019}) / {S.PRICE}_{Q 4 2019}} \times - 1$
${R E V_R E B}_{i t}$	$= ({REVENUE}_{t} - {REVENUE}_{Q 2 2020}) / {REVENUE}_{Q 2 2020}$
${M A R G I N_R E B}_{i t}$	$= {MARGIN}_{t} - {MARGIN}_{Q 2 2020}$
${S . P R I C E_R E B}_{i t}$	$= {(S.PRICE}_{t} - {S.PRICE}_{Q 1 2020}) / {S.PRICE}_{Q 1 2020}$
${F D T}_{i t}$	$= 1 i f t h e f r e q u e n c y o f F o H D T w o r d s i s g r e a t e r t h a n t h e m e d i a n, 0 o t h e r w i s e$
${B D T}_{i t}$	$= 1 i f t h e f r e q u e n c y o f B o H D T w o r d s i s g r e a t e r t h a n t h e m e d i a n, 0 o t h e r w i s e$
${D T}_{i t}$	$= 1 i f t h e f r e q u e n c y o f D T w o r d s i s g r e a t e r t h a n t h e m e d i a n, 0 o t h e r w i s e$
${D R O P_P R D}_{i}$	$= 1 i f i t c o r r e s p o n d s t o a d r o p p e r i o d, 0 o t h e r w i s e$
${D_Q S R}_{i}$	$= 1 i f r e s t a u r a n t f i r m i s a q u i c k s e r v i c e r e s t a u r a n t, 0 o t h e r w i s e$
${D E B T}_{i t - 1}$	$= l n ({Total debts}_{i t - 1} / {Total assets}_{i t - 1})$
${C A S H F L O W}_{i t - 1}$	$= l n ({O p e r a t i n g C a s h F l o w}_{i t - 1}) / {T o t a l a s s e t s}_{i t - 1}$
${T O B I N Q}_{i t - 1}$	$= l n {[({C l o s i n g s t o c k p r i c e}_{i t - 1} \times {Common share outstanding}_{i t - 1}) + {Total debts}_{i t - 1} + {Preferred stock}_{i t - 1}] / {Total assets}_{i t - 1}}$
${D Q}_{i t - 1}$	$= 1 i f T o b i n ´ s q i s g r e a t e r t h a n o r e q u a l t o 1, o t h e r w i s e 0$
${M K T_S H A R E}_{i t - 1}$	$= l n ({Revenue}_{i t - 1} / {Total revenue of entire restaurant}_{t - 1})$
${D_D I V I D E N D}_{i t - 1}$	$= 1 i f t h e f i r m p a i d d i v i d e n d s t h e y e a r b e f o r e a s h a r e r e p u r c h a s e a n n o u n c e m e n t$
${R E P}_{i t - 1}$	$= l n ({Share repurchase}_{i t - 1} / {free cash flow}_{i t - 1})$
${A S S E T}_{i t - 1}$	$= l n ({total assets}_{it})$

Source(s): Developed by authors