Table 2.
Variable definitions.
| Variables | Names | Symbols | Definitions |
|---|---|---|---|
| Dependent variable | Corporate financial performance | FP | Corporate ROE (return on equity) |
| Corporate environmental performance | EP | E scores by Sino-Securities Index Information Service (Shanghai) Co.Ltd | |
| Independent variable | Corporate environmental information disclosure | EID | Corporate Environmental information disclosure score from Bloomberg |
| Control variables | Equity nature | State | State = 1 if the company is state-owned, and State = 0 vice versa. |
| Asset-liability ratio | Leverage | Total liability/Total asset | |
| Corporate size | Size | Logarithm of the total assets | |
| Growth ability | Growth | Growth rate of operating income | |
| Shareholding ratio of the largest shareholder | Holder1 | Shares held by the largest shareholder/number of total outstanding shares | |
| Mediating variable | Corporate green innovation | GI | Logarithm of (1+green patents applied by enterprises in the given year) |