Skip to main content

Table 1 Variable definition and measurement

From: Female directors in the boardroom and intellectual capital performance: Does the “critical mass” matter?

Acronym

Variable name

Definition

Literature

Dependent variables

MVAIC

Modified value-added intellectual capital coefficient

Capital employed efficiency plus human capital efficiency plus structural capital efficiency plus relational capital efficiency

Nimtrakoon (2015), Xu and Wang (2018), Smriti and Das (2018), Xu and Li (2020), Chen et al. (2005)

CEE

Capital employed efficiency

Value-added/Capital employed

Nadeem et al. (2019), Nadeem et al. (2017), Dashtbayaz et al. (2020)

HCE

Human capital efficiency

Value-added/Human capital

Dashtbayaz et al. (2020), Nadeem et al. (2019), Nadeem et al. (2017), Smriti and Das (2018)

SCE

Structural capital efficiency

Structural capital/Value added

Nadeem et al. (2017), Dashtbayaz et al. (2020), Nadeem et al. (2019), Smriti and Das (2018)

RCE

Relational capital efficiency

Relational capital/value-added

Smriti and Das (2018), Xu and Li (2020), Xu and Wang (2018)

Independent variables

FEM1

Female dummy 1

The dummy variable assumes the value 1 if the board has at least one female director; otherwise, it is 0

Torchia et al. (2011), Nadeem (2020), Liu et al. (2014), Yarram and Adapa (2021)

FEM2

Female dummy 2

The dummy variable assumes the value 1 if the board has two female directors; otherwise, it is 0

Yarram and Adapa (2021), Liu et al. (2014), Torchia et al. (2011), Joecks et al. (2013)

FEM3

Female dummy 3

The dummy variable assumes the value 1 if the board has three or more female directors; otherwise, it is 0

Yarram and Adapa (2021), Joecks et al. (2013), Liu et al. (2014), Nadeem (2020), Torchia et al. (2011)

Control variables

BS

Board size

Total number of directors on the board

Vitolla et al. (2020), Nadeem (2020), Nicolò et al. (2021),Hidalgo et al. (2011), Shahzad et al. (2019)

BI

Board independence

The proportion of independent directors on the board,

Hidalgo et al. (2011), Hsu et al. (2019), Shahzad et al. (2019), Nadeem (2020), Vitolla et al. (2020)

CEOD

CEO duality

The indicator variable equals 1 if the same person holds both CEO and Chair positions and 0 otherwise

Dashtbayaz et al. (2020), Nadeem et al. (2019), Nadeem (2020), Nadeem et al. (2017)

ROA

Return on assets

Net profit scaled by total assets

Smriti and Das (2018), Nadeem et al. (2017),, Nadeem (2020)

FS

Firm size

Natural log of total assets

Asiaei et al. (2018), Vitolla et al. (2020), Nadeem (2020)

FA

Firm age

Listing years of the firm on the stock exchange

Vitolla et al. (2020), Shahzad et al. (2019)

LEV

Leverage

Total debt scaled by total assets

Shahzad et al. (2019), Nadeem (2020), Dashtbayaz et al. (2020)