Table 1. Variables definitions Variables... | Emerald Publishing

Table 1.

Variables definitions

Variables	Role	Symbols	Description	Key references
Operating expenses/revenue	Dependent	OE	Ratio of total operating expenses to total revenue; proxy for operational efficiency	Chen et al. (2020), Lee and Yoon (2019) and Khan et al. (2021)
Cost of capital (%)		CC	Weighted average cost of debt and equity capital used to finance firm operations	Bhandari (1988), Fama and French (1992) and Rajan and Zingales (1995)
Total cost		TC	Aggregate of all production and operating costs incurred by the firm	Filippini and Pachauri (2004) and Bai and Ng (2002)
Profile soil moisture	Independent	GW	Average soil moisture content in the top layer; measures water availability in soil	Deryng et al. (2016) and Funk et al. (2015)
Precipitation		PRE	Cumulative corrected precipitation over a given period (mm/day)	Trenberth et al. (2014) and Funk et al. (2015)
Specific humidity at 2 meters		QV2M	Mass of water vapor per kilogram of air near the surface (g/kg)	Romps (2014) and Sherwood and Fu (2014)
Relative humidity at 2 meters		RH2M	Percentage of moisture in the air relative to saturation at 2 meters height	Soden and Held (2006) and Sherwood et al. (2010)
Wet bulb temperature at 2 meters		T2MWET	Minimum temperature air can reach via evaporation; reflects heat stress impact	Sherwood and Huber (2010) and Raymond et al. (2020)
Wind speed at 2 meters		WS2M	Wind velocity measured at 2 meters above ground level (m/s)	Pryor and Schoof (2013) and Uccellini (2013)
Leverage	Control	Lev	Ratio of total liabilities to total assets; measures financial risk	Rajan and Zingales (1995), Myers (2001) and Titman and Wessels (1988)
Firm size		Size	Natural logarithm of total assets; proxy for firm scale and market power	Demsetz and Lehn (1985), Fama and French (1992) and Titman and Wessels (1988)
Growth rate		G	Year-over-year percentage change in revenue; captures firm expansion dynamics	Titman and Wessels (1988), Lang et al. (1996) and Fama and French (1992)

Variables	Role	Symbols	Description	Key references
Operating expenses/revenue	Dependent	OE	Ratio of total operating expenses to total revenue; proxy for operational efficiency	Chen et al. (2020), Lee and Yoon (2019) and Khan et al. (2021)
Cost of capital (%)		CC	Weighted average cost of debt and equity capital used to finance firm operations	Bhandari (1988), Fama and French (1992) and Rajan and Zingales (1995)
Total cost		TC	Aggregate of all production and operating costs incurred by the firm	Filippini and Pachauri (2004) and Bai and Ng (2002)
Profile soil moisture	Independent	GW	Average soil moisture content in the top layer; measures water availability in soil	Deryng et al. (2016) and Funk et al. (2015)
Precipitation		PRE	Cumulative corrected precipitation over a given period (mm/day)	Trenberth et al. (2014) and Funk et al. (2015)
Specific humidity at 2 meters		QV2M	Mass of water vapor per kilogram of air near the surface (g/kg)	Romps (2014) and Sherwood and Fu (2014)
Relative humidity at 2 meters		RH2M	Percentage of moisture in the air relative to saturation at 2 meters height	Soden and Held (2006) and Sherwood et al. (2010)
Wet bulb temperature at 2 meters		T2MWET	Minimum temperature air can reach via evaporation; reflects heat stress impact	Sherwood and Huber (2010) and Raymond et al. (2020)
Wind speed at 2 meters		WS2M	Wind velocity measured at 2 meters above ground level (m/s)	Pryor and Schoof (2013) and Uccellini (2013)
Leverage	Control	Lev	Ratio of total liabilities to total assets; measures financial risk	Rajan and Zingales (1995), Myers (2001) and Titman and Wessels (1988)
Firm size		Size	Natural logarithm of total assets; proxy for firm scale and market power	Demsetz and Lehn (1985), Fama and French (1992) and Titman and Wessels (1988)
Growth rate		G	Year-over-year percentage change in revenue; captures firm expansion dynamics	Titman and Wessels (1988), Lang et al. (1996) and Fama and French (1992)