List of variables in the current study
| Variable | Types | Description |
|---|---|---|
| Tobin’s Q | Dependent | Total market value/total asset value |
| ESG | Independent | Corporate sustainability practice score on firm’s environmental, social and governance activities, graded by Thomson Reuters |
| Beta | Control | Beta factor for a firm’s systematic risk |
| Leverage | Control | Total debt/equity |
| Size | Control | Natural logarithm of total assets |
| Variable | Types | Description |
|---|---|---|
| Tobin’s Q | Dependent | Total market value/total asset value |
| ESG | Independent | Corporate sustainability practice score on firm’s environmental, social and governance activities, graded by Thomson Reuters |
| Beta | Control | Beta factor for a firm’s systematic risk |
| Leverage | Control | Total debt/equity |
| Size | Control | Natural logarithm of total assets |