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Table 2 Variables Description

From: A study of environmental disclosures practices in Chinese energy industry

EDIEnvironmental Disclosure IndexTotal number of items appearing in the annual report/Maximum number of items which should appear in annual reportsRagini (2012)
ROAReturn on AssetsNet income/total assetsFeng et al. (2018); Li et al. (2010); Norhasimah (2016); Zhang et al. (2014)
SIZECompany SizeThe natural log of total assetBaalouch et al. (2019); Brammer and Pavelin (2008); Chaklader and Gulati (2015); Clarkson et al. (2011); Cormier and Magnan (2007); Magness 2006; Suttipun and Stanton (2012); Wu et al. (2010); Yang and Zhang (2014); Zeng et al. (2012)
LEVLeverageDebt to assets ratioBaalouch et al. (2019); Wu et al. (2010)
MNCMultinational CharacteristicsDummy for multinational characteristics: 1 refers to company that is multinational, 0 if the company is not.Brennan and Merkl-Davies (2014); Hahn and Kühnen (2013); Ledoux et al. (2014); Meng et al. (2013);
CERTEnvironmental CertificateDummy for certification: 1 refers to a company who has environmental certification (e.g., Ecolabel, ISO 14000 and others), 0 otherwise.Chaklader and Gulati (2015); Mitchell and Hill (2009); Sumiani et al. (2007)
TIMETimeDummy for time: 0 refers to the company’s performance for the period 2016; 1 refers to the company’s performance for the period 2017.