Table 2 Summary of variables Variables... | Emerald Publishing

Table 2

Summary of variables

Variables	Acronyms	Operationalization	References
Real earnings management	REM	Roychowdhury (2006) models
Ownership concentration	OWNCON	The percentage of shareholdings who own five percent or more in the firm by following prior literature	Dang Ngoc and Tran Manh (2020)
Managerial ownership	MANOWN	The proportion of the total shares held by executive directors to the total number of shares issued	Piosik and Genge (2020)
Institutional ownership	INSOWN	The number of shares held by the institutional shareholder as a percentage of the total number of shares outstanding	Alhadab et al. (2020)
Foreign ownership	FOROWN	The percentage of shares owned by foreign investors to the total number of shares issued	Dang Ngoc and Tran Manh (2020)
Firm size	FSIZE	The natural logarithm of the firm’s total assets	Uddin et al. (2021)
Return on asset	ROA	It is the percentage of net income to total assets	Majumder et al. (2023)
Leverage	LEV	The proportion of total debt scaled by the total asset	Saona et al. (2020)
Firm age	FAGE	The natural logarithm of the number of years since the establishment year of the firm	Dang et al. (2020)
Country dummies	CDM	Dummy variables for the countries Bangladesh, India, and Pakistan	By following studies (AlHares, 2020)
Year dummies	YDM	Dummy variables for the years 2015, 2016, 2017, 2018, and 2019	By following studies (AlHares, 2020)

Variables	Acronyms	Operationalization	References
Real earnings management	REM	Roychowdhury (2006) models
Ownership concentration	OWNCON	The percentage of shareholdings who own five percent or more in the firm by following prior literature	Dang Ngoc and Tran Manh (2020)
Managerial ownership	MANOWN	The proportion of the total shares held by executive directors to the total number of shares issued	Piosik and Genge (2020)
Institutional ownership	INSOWN	The number of shares held by the institutional shareholder as a percentage of the total number of shares outstanding	Alhadab et al. (2020)
Foreign ownership	FOROWN	The percentage of shares owned by foreign investors to the total number of shares issued	Dang Ngoc and Tran Manh (2020)
Firm size	FSIZE	The natural logarithm of the firm’s total assets	Uddin et al. (2021)
Return on asset	ROA	It is the percentage of net income to total assets	Majumder et al. (2023)
Leverage	LEV	The proportion of total debt scaled by the total asset	Saona et al. (2020)
Firm age	FAGE	The natural logarithm of the number of years since the establishment year of the firm	Dang et al. (2020)
Country dummies	CDM	Dummy variables for the countries Bangladesh, India, and Pakistan	By following studies (AlHares, 2020)
Year dummies	YDM	Dummy variables for the years 2015, 2016, 2017, 2018, and 2019	By following studies (AlHares, 2020)