Variable description
| Independent variables | Variable code | Variable description |
| Research and development | LnR&D | Logarithm of the amount of investment in Research and Development |
| No. of patents | Patents | Number of patent application |
| Control variables | Variable code | Variable description |
| CSR sustainability committee | CSR_Com | Does the company have a CSR sustainability committee? |
| GRI report guidelines | GRI_Guid | Is the company's CSR report published in accordance with the GRI guidelines? |
| Environmental innovation score | EIS | Environmental innovation category score reflects a company's capacity to reduce the environmental costs and burdens for its customers, and thereby creating new market opportunities through new environmental technologies and processes or eco-designed products |
| Product responsibility | Prod_resp | Product responsibility reflects a company's ability to produce products or offer services that promote responsibility, efficiency, cost-effectiveness and environmental sensitivity |
| Ln total assets | TA | Ln Total Assets |
| Market capitalization | Mkt_cap | Total market value of a company's outstanding shares of stock |
| Return on assets | ROA | ROA is calculated as the net profit divided by the total assets |
| Independent variables | Variable code | Variable description |
| Research and development | LnR&D | Logarithm of the amount of investment in Research and Development |
| No. of patents | Patents | Number of patent application |
| Control variables | Variable code | Variable description |
| CSR sustainability committee | CSR_Com | Does the company have a CSR sustainability committee? |
| GRI report guidelines | GRI_Guid | Is the company's CSR report published in accordance with the GRI guidelines? |
| Environmental innovation score | EIS | Environmental innovation category score reflects a company's capacity to reduce the environmental costs and burdens for its customers, and thereby creating new market opportunities through new environmental technologies and processes or eco-designed products |
| Product responsibility | Prod_resp | Product responsibility reflects a company's ability to produce products or offer services that promote responsibility, efficiency, cost-effectiveness and environmental sensitivity |
| Ln total assets | TA | Ln Total Assets |
| Market capitalization | Mkt_cap | Total market value of a company's outstanding shares of stock |
| Return on assets | ROA | ROA is calculated as the net profit divided by the total assets |