Table 1 Variable measurement Variable... | Emerald Publishing

Table 1

Variable measurement

Variable	Measurement	Reference
Value Relevance	Price Model $P_{i t + 1} = α_{0} + α_{1} {B V}_{i t} + α_{2} {E P S}_{i t} + ε$	James (1995), Krismiaji et al. (2019), Kalantonis et al. (2020), Callao et al. (2016), ur Rehman et al. (2020)
Institutional Ownership	Share ownership above 5% in the form of institutions, individuals and companies	Krismiaji et al. (2019), Basu (1997)
Accounting Conservatism	Basu Model	Khan and Watts (2009)
Size	Natural logarithm of total assets	Almujamed and Alfraih (2019)
Leverage	Debt to Equity Ratio	Lean et al. (2015)
Return on Assets	Return to Total Assets	Gana and Krichen (2013)
Volatility	Standard deviation of each issuer’s monthly stock return	Rego and Wilson (2012)

Variable	Measurement	Reference
Value Relevance	Price Model $P_{i t + 1} = α_{0} + α_{1} {B V}_{i t} + α_{2} {E P S}_{i t} + ε$	James (1995), Krismiaji et al. (2019), Kalantonis et al. (2020), Callao et al. (2016), ur Rehman et al. (2020)
Institutional Ownership	Share ownership above 5% in the form of institutions, individuals and companies	Krismiaji et al. (2019), Basu (1997)
Accounting Conservatism	Basu Model	Khan and Watts (2009)
Size	Natural logarithm of total assets	Almujamed and Alfraih (2019)
Leverage	Debt to Equity Ratio	Lean et al. (2015)
Return on Assets	Return to Total Assets	Gana and Krichen (2013)
Volatility	Standard deviation of each issuer’s monthly stock return	Rego and Wilson (2012)

Source(s): Table by authors