Table 2.
Variable definitions.
| Type | Name | Symbol | Definition |
|---|---|---|---|
| Dependent variable | Green transformation of manufacturing enterprises | lnSCORE | Natural Logarithm of the Score of the Green Transformation Evaluation System of Manufacturing Enterprises |
| Independent variable | Environmental administrative supervision | ER1 | Sulfur dioxide emissions/GDP in the province where the business is registered |
| Environmental economic regulation | ER2 | Investment in urban environmental infrastructure/industrial value added | |
| Environmental soft constraint | ER3 | Whether the ISO14001 environmental management system certification. Yes for 1; No for 0 | |
| Mediator variable | Managers' green perception | EGP | Frequency of keywords in the green perception measurement dimension of managers' annual reports as a percentage of the total word frequency of the text |
| Control variable | Scale | SIZE | Natural logarithm of total assets at the end of the period |
| Liquidity ratio | LR | Current assets/current liabilities | |
| Revenue growth rate | SALE | Annual revenue growth rate | |
| Operating profit margin | OP | Operating profit/revenue | |
| Receivable turnover rate | AR | Natural logarithm of the number of Directors for the Year | |
| Age of business | AGE | Year of establishment up to sample year | |
| Combination of two duties | DUAL | If the chairman and the general manager are the same person, it is 1; otherwise, it is 0 | |
| Four major audits | BIG4 | Is 1 for the four largest audits, otherwise it is 0 |