Table 1. Variable settings of... | Emerald Publishing

Table 1.

Variable settings of high-quality enterprise development

First indicators	Secondary indicators	Variable	Explanation
Value creation proficiency	Enterprise business proficiency	Total assets	Natural logarithm of total assets of listed companies at the end of the period
		Number of employees	Natural logarithm of total number of employees at the end of the period for listed companies
		Return on net assets	Net profit/shareholders' equity balance
		Net profit margin	Net profit/operating income
		Profitability of main business	(Operating revenue - operating costs)/total profit
		Current asset turnover	Operating income/closing balance of current assets
		Total asset turnover	Operating income/total assets closing balance
		Total asset growth rate	(Closing value of assets for the period - Closing value of assets for the same period last year)/closing value of assets for the same period last year
		Net profit margin on total assets	Net profit/total assets balance
		Net profit growth rate	(Amount of net profit for the current year - Amount of net profit for the same period of the previous year) / amount of net profit for the same period of the previous year
	Enterprise innovation proficiency	Net intangible assets	Original cost of each of the company's intangible assets, net of amortization and provision for impairment
		Growth rate of intangible assets	Increase in intangible assets during the period/beginning of the period
		R&D investment intensity	R&D investment as a percentage of operating revenue
Value management proficiency	Level of sustainable development	Sustainable growth rate	(Net profit/total closing balance of owners' equity) x [1 - dividend per share before tax/(current value of net profit/closing value of paid-in capital for the period)]/(1 - numerator)
	Level of internal control	Internal control index	Adoption of the dibble internal control index
	Level of corporate governance	Proportion of independent directors	Number of independent directors/total number of board members

First indicators	Secondary indicators	Variable	Explanation
Value creation proficiency	Enterprise business proficiency	Total assets	Natural logarithm of total assets of listed companies at the end of the period
		Number of employees	Natural logarithm of total number of employees at the end of the period for listed companies
		Return on net assets	Net profit/shareholders' equity balance
		Net profit margin	Net profit/operating income
		Profitability of main business	(Operating revenue - operating costs)/total profit
		Current asset turnover	Operating income/closing balance of current assets
		Total asset turnover	Operating income/total assets closing balance
		Total asset growth rate	(Closing value of assets for the period - Closing value of assets for the same period last year)/closing value of assets for the same period last year
		Net profit margin on total assets	Net profit/total assets balance
		Net profit growth rate	(Amount of net profit for the current year - Amount of net profit for the same period of the previous year) / amount of net profit for the same period of the previous year
	Enterprise innovation proficiency	Net intangible assets	Original cost of each of the company's intangible assets, net of amortization and provision for impairment
		Growth rate of intangible assets	Increase in intangible assets during the period/beginning of the period
		R&D investment intensity	R&D investment as a percentage of operating revenue
Value management proficiency	Level of sustainable development	Sustainable growth rate	(Net profit/total closing balance of owners' equity) x [1 - dividend per share before tax/(current value of net profit/closing value of paid-in capital for the period)]/(1 - numerator)
	Level of internal control	Internal control index	Adoption of the dibble internal control index
	Level of corporate governance	Proportion of independent directors	Number of independent directors/total number of board members

Source: Table courtesy of Xu et al. (2023)