Table 3

Variables description, references and sources

VariablesDescriptionReferencesSource
SizeNatural logarithm of the total number of hospital bedsAndrades-Peña et al. (2021), Arena et al. (2021) INHS Open Data
Gender DiversityThree binary variablesToth (2014), Naciti et al. (2022) Websites
(1) when the General Manager (GM) is female and (0) if it is male
(1) when the Chief Executive Officer (CEO) is a woman and (0) if it is male
(1) when the Chief Health Officer (CHO) is a woman and (0) if it is male
Financial performance and indebtednessFinancial performance measures the profitability of Italian public HCOs (Ratio of total net income on total assets – ROA)Uyar et al. (2021), Matos et al. (2021) Financial Statements
Indebtedness measures the level of Italian public HCOs' debt (Ratio of total debt on total assets)
ResearchDichotomous variable equal to (1) if the HCO is an NHSR or NHSRF and (0) otherwiseArena et al. (2021), Pizzi et al. (2021) INHS Open Data
UniversityDichotomous variable equal to (1) if the HCO is a UH or UHI and (0) otherwiseArena et al. (2021) INHS Open Data
LocalisationDichotomous variable equal to (1) if the HCO is located in the South of Italy and (0) if notPizzi et al. (2021) INHS Open Data

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