Research Article
The Level of Regional Economic Development, Green Image, and Enterprise Environmental Protection Investment: Empirical Evidence from China
Table 1
Research variable description.
| Type | Name | Code | Connotation |
| Explained variable | Scale of enterprise environmental protection investment | EI | New investment in environmental protection in that year/average total assets | Explanatory variable | Green image | GIM | 1 if ISO14001 certification, 0 otherwise | Regional economic development level | EDL | GDP per capita | Control variable | Corporate profitability | EPS | Earnings per share | Corporate debt level | LEV | Asset-liability ratio | Operating cash flow | FLOW | Ratio of net operating cash flow to average total assets | Cash holding | CASH | Ratio of year-end monetary funds to average total assets | Opportunity cost | OPP | Tobin’ Q | Enterprise size | SIZE | Natural logarithm of the total assets of the listed enterprise at the end of the period | Equity checks and balances | BALANCE | Shareholding ratio of the second largest shareholder to the fifth largest shareholder | Agency cost | COST | Management expense ratio = management expense/operating income | Annual dummy variable | YEAR | Take 8 dummy variables in 9 years |
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