Equity Incentive Model, Source of Subject Matter and Enterprise Performance: Modification Effect Based on Equity Incentive Intensity

Table 1

Definition and description of variables.

Variable category	Variable sign	Variable definition
Explained variables	ROA	Net profit/average balance of total assets
	ROE	Net profit/average balance of shareholders’ equity
Explanatory variables	Mode	Dummy variables: stock option = 1; restricted stock = 0
	Strength	Strength total number of incentives/total equity
	Source	Dummy variables: stock repurchase = 1; issuing shares = 0
Control variables	Size	Ln (total assets)
	Operation	Net operating income for the period/2
	Lev	Liabilities at the end of the period/total assets at the end of the period
	Growth	(Assets at end of current period − assets at end of previous year)/(assets at end of previous year)
	Both	Chairman and managing director = 1, otherwise 0
	Shrhfd1	Shareholding of the largest shareholder
	Donation	Total annual social giving by listed companies