Table 1 Variable definitions and data... | Emerald Publishing

Table 1

Variable definitions and data sources

Variable	Definition	Data source
Dependent variable
CEO.TUR	Dummy variable equal to one if there is a forced CEO turnover attributed to firm i year t and zero otherwise	BoardEx
Independent control variables
ROA	Return on assets of firm i in year t	Datastream
SIZE	Total assets of firm i at the end of year t	Datastream
MV	Market value of equity of firm i at the end of year t	Datastream
BOARD	Number of board members of firm i at the end of year t	BoardEX
FLOAT	Percentage of free float of firm i at the end of year t	Datastream
Independent variables of interest
JUD.IND	Judicial independence index of firm country in year t	World economic forum – global competitiveness reports
STREN.REP	Strength of auditing and accounting standards index of firm country in year t	World economic forum – global competitiveness reports
MIN.PROT	Minority investor protection index of firm country in year t	World bank – doing business reports
ANG	Dummy variable equal to one if the observation concerns an Anglo-Nordic firm and zero otherwise	La Porta et al. (2000) and La Porta et al. (1998)

Variable	Definition	Data source
Dependent variable
CEO.TUR	Dummy variable equal to one if there is a forced CEO turnover attributed to firm i year t and zero otherwise	BoardEx
Independent control variables
ROA	Return on assets of firm i in year t	Datastream
SIZE	Total assets of firm i at the end of year t	Datastream
MV	Market value of equity of firm i at the end of year t	Datastream
BOARD	Number of board members of firm i at the end of year t	BoardEX
FLOAT	Percentage of free float of firm i at the end of year t	Datastream
Independent variables of interest
JUD.IND	Judicial independence index of firm country in year t	World economic forum – global competitiveness reports
STREN.REP	Strength of auditing and accounting standards index of firm country in year t	World economic forum – global competitiveness reports
MIN.PROT	Minority investor protection index of firm country in year t	World bank – doing business reports
ANG	Dummy variable equal to one if the observation concerns an Anglo-Nordic firm and zero otherwise	La Porta et al. (2000) and La Porta et al. (1998)

Source: Authors’ own work