Variables definition
| Variable | Description |
|---|---|
| CSR | Log value of CSR spending for the firm |
| TII | Percentage of total institutional ownership in the total shareholding of the firm |
| DII | Percentage of domestic institutional ownership in the total shareholding of the firm |
| FII | Percentage of foreign institutional ownership in the total shareholding of the firm |
| PROM | Percentage of promoter holdings in the total shareholding of the firm |
| ROA | Profitability is measured as the firm’s return on assets |
| LOGCASH | Log the value of cash holdings for the firm |
| LEV | Leverage is measured as the debt-to-equity ratio for the firm |
| AGE | Age of the firm |
| SIZE | The firm’s size is measured as the log value of total assets |
| LOGINDCSR | Log value of average CSR spending in the given industry |
| TII_PREDICTED | Predicted values of institutional ownership regressed on key determinants for the firm |
| DII_PREDICTED | Predicted values of domestic institutional ownership regressed on key determinants for the firm |
| FII__PREDICTED | Predicted values of foreign institutional ownership regressed on key determinants for the firm |
| VOL | The volume of shares traded for the firm |
| Yield | Dividend yield for the firm |
| Nifty_dummy | Dummy variable representing preference for Nifty-50 companies |
| Growth | Growth rate of the firm |
| BHAR | Buy-Hold Abnormal Return for the firm |
| Beta | Measure of systematic risk (beta) for the firm |
| Variable | Description |
|---|---|
| CSR | Log value of CSR spending for the firm |
| TII | Percentage of total institutional ownership in the total shareholding of the firm |
| DII | Percentage of domestic institutional ownership in the total shareholding of the firm |
| FII | Percentage of foreign institutional ownership in the total shareholding of the firm |
| PROM | Percentage of promoter holdings in the total shareholding of the firm |
| ROA | Profitability is measured as the firm’s return on assets |
| LOGCASH | Log the value of cash holdings for the firm |
| LEV | Leverage is measured as the debt-to-equity ratio for the firm |
| AGE | Age of the firm |
| SIZE | The firm’s size is measured as the log value of total assets |
| LOGINDCSR | Log value of average CSR spending in the given industry |
| TII_PREDICTED | Predicted values of institutional ownership regressed on key determinants for the firm |
| DII_PREDICTED | Predicted values of domestic institutional ownership regressed on key determinants for the firm |
| FII__PREDICTED | Predicted values of foreign institutional ownership regressed on key determinants for the firm |
| VOL | The volume of shares traded for the firm |
| Yield | Dividend yield for the firm |
| Nifty_dummy | Dummy variable representing preference for Nifty-50 companies |
| Growth | Growth rate of the firm |
| BHAR | Buy-Hold Abnormal Return for the firm |
| Beta | Measure of systematic risk (beta) for the firm |
Source(s): Authors’ elaboration