| TOBINQ | Tobin’s Q | Total assets minus book value of assets plus market value of equity, all divided by total assets | Soriya and Rastogi (2023), Barth et al. (2017) |
| IRSCORE | Integrated reporting scoring index | Measured by the scoring index using content analysis | Senani et al. (2024) |
| LEV | Leverage | Total debt divided by total book value of equity | Asadi et al. (2024) |
| ROA | Return on assets | Net profit divided by total assets | Radwan and Xiongyuan (2024) |
| CAPEXR | Capital growth | Total capital expenditures divided by total assets | Soriya and Rastogi (2023) |
| LNASSETS | Firm size | Natural logarithm of total assets | Hichri and Alqatan (2024) |
| SALESG | Sales growth | Total sales for the current year minus sales of previous year, all divided by total sales | Obeng et al. (2020) |
| DIV | Dividend | An indicator variable equal to 1 if dividend was paid or declared; 0 if not | Wahl et al. (2020) |
| INDSENS | Industry sensitivity | An indicator variable equal to 1 if a firm belongs to a sensitive industry; 0 if not | De Villiers et al. (2017) |
| LOSS | Firm loss | An indicator variable equal to 1 if a firm made a loss; 0 if not | Radwan and Xiongyuan (2024) |
| YR | Firm year | An indicator variable for fixed-year effects. Eight variables equal to 1 or 0 for each year from 2011–2018 | Senani et al. (2024) |
| IND | Firm industry | An indicator variable for fixed-industry effects. X variables equal to 1 or 0 for each industry | Asadi et al. (2024) |