Differences in the Values of the Senior Management Team, Antirisk Ability, and Innovation Performance by the Data-Driven Approach: Evidence from 841 Listed Companies in China
Table 1
Variable settings and definitions.
Variable type
Variable name
Variable symbol
Variable description
Explained variable
Number of patents
Inv
Number of invention patents owned by the company
Explanatory variables
Differences in the values of the senior management team
Detv
Based on the “empirical study on the impact of organizational identity on employee behavior effectiveness.” reported by Wang et al. [42]; the Euclidean distance is then used to measure the difference between the chairman and the general manager in these 9 cultural dimensions
Antirisk ability
ART
The comprehensive function value obtained after the principal component analysis of the enterprise risk-bearing ability index
Control variable (enterprise level)
Enterprise size
Ens
The natural logarithm of the company’s total assets
Assets and liabilities
Fle
Total liabilities at the end of the year/total assets at the end of the year
Business performance
ROA
Total profit at the end of the year/(total assets at the end of the year + total assets at the beginning of the year)
Control variable (corporate governance level)
Board size
Bsi
The total number of board members takes the natural logarithm
Board independence
Bin
Number of independent directors/total number of board of directors
Control variable (others)
Year
Year
Annual dummy variable
Industry
Ind
Industry dummy variables defined based on the industry classification of the China securities regulatory commission
