Table 1 Summary of variables Variable... | Emerald Publishing

Table 1

Summary of variables

Variable type	Variable	Definition	Measurement	Data source	References
Dependent variables	ROA	Return on assets, a measure of profitability	Net income divided by total assets	Financial statements of the sample companies	Rahayu et al. (2022)
Dependent variables	EPS	Earnings per share, a measure of profitability	Net income divided by the number of shares outstanding	Financial statements of the sample companies	Al-Absy and AlMahari (2023)
Independent variables	board_size	Number of total directors on the board, a measure of board diversity	Count of board members	Corporate governance reports or board committee reports of the sample companies	Harymawan et al. (2020)
	board_meet	Number of board meetings held in a year, a measure of board activity and involvement	Count of board meetings	Corporate governance reports or board committee reports of the sample companies	Al-Absy and AlMahari (2023)
	board_ind	Proportion of independent directors on the board, a measure of board diversity and quality	Number of independent directors divided by total number of directors	Corporate governance reports or board committee reports of the sample companies	Rahayu et al. (2021)
	fem_dir	Proportion of female directors on the board, a measure of board diversity	Number of female directors divided by total number of directors	Corporate governance reports or board committee reports of the sample companies	Rahayu et al. (2021)
Moderating variables	nrc	Nomination and remuneration committee, a board subcommittee that oversees the nomination and remuneration of directors and executives, a measure of corporate governance quality and practice	Dummy variable that takes the value of 1 if the company has an NRC, and 0 otherwise	Corporate governance reports or board committee reports of the sample companies	Zraiq and Fadzil (2018)
Control variables	lev	A measure of financial risk and capital structure	Total debt divided by total assets	Financial statements of the sample companies	Rahayu et al. (2022)
	firm_size	Natural logarithm of total assets, a measure of firm size and scale	Logarithm (base e) of total assets	Financial statements of the sample companies	Harymawan et al. (2020)
	firm_age	Number of years since the company was established, a measure of firm age and experience	Count of years from the date of establishment to the current year	Company websites or other relevant sources	Al-Absy and AlMahari (2023)
	ac_meeting	Number of Meetings of the Audit Committee in a year	Count of the meeting frequency of the audit committee in a financial year	Corporate governance reports or board committee reports of the sample companies	Al-Absy and AlMahari (2023)

Variable type	Variable	Definition	Measurement	Data source	References
Dependent variables	ROA	Return on assets, a measure of profitability	Net income divided by total assets	Financial statements of the sample companies	Rahayu et al. (2022)
Dependent variables	EPS	Earnings per share, a measure of profitability	Net income divided by the number of shares outstanding	Financial statements of the sample companies	Al-Absy and AlMahari (2023)
Independent variables	board_size	Number of total directors on the board, a measure of board diversity	Count of board members	Corporate governance reports or board committee reports of the sample companies	Harymawan et al. (2020)
	board_meet	Number of board meetings held in a year, a measure of board activity and involvement	Count of board meetings	Corporate governance reports or board committee reports of the sample companies	Al-Absy and AlMahari (2023)
	board_ind	Proportion of independent directors on the board, a measure of board diversity and quality	Number of independent directors divided by total number of directors	Corporate governance reports or board committee reports of the sample companies	Rahayu et al. (2021)
	fem_dir	Proportion of female directors on the board, a measure of board diversity	Number of female directors divided by total number of directors	Corporate governance reports or board committee reports of the sample companies	Rahayu et al. (2021)
Moderating variables	nrc	Nomination and remuneration committee, a board subcommittee that oversees the nomination and remuneration of directors and executives, a measure of corporate governance quality and practice	Dummy variable that takes the value of 1 if the company has an NRC, and 0 otherwise	Corporate governance reports or board committee reports of the sample companies	Zraiq and Fadzil (2018)
Control variables	lev	A measure of financial risk and capital structure	Total debt divided by total assets	Financial statements of the sample companies	Rahayu et al. (2022)
	firm_size	Natural logarithm of total assets, a measure of firm size and scale	Logarithm (base e) of total assets	Financial statements of the sample companies	Harymawan et al. (2020)
	firm_age	Number of years since the company was established, a measure of firm age and experience	Count of years from the date of establishment to the current year	Company websites or other relevant sources	Al-Absy and AlMahari (2023)
	ac_meeting	Number of Meetings of the Audit Committee in a year	Count of the meeting frequency of the audit committee in a financial year	Corporate governance reports or board committee reports of the sample companies	Al-Absy and AlMahari (2023)

Source(s): Authors’ own work