Research Article
[Retracted] Big Data Analytics and Discrete Choice Model for Enterprise Credit Risk Early Warning Algorithm
Table 5
Enterprise governance variables and their meanings.
| Variable type | Variable name and symbol | Specific meaning |
| Ownership structure | Shareholding ratio of the largest shareholder (G1) | Number of shares/total share capital held by the largest shareholder | CR_5 index (G2) | The sum of the shareholding ratios of the top five major shareholders | Herfindahl_5 index (G3) | Sum of the squares of the shareholding ratio of the top five major shareholders | Z index (G4) | Number of shares held by the first largest shareholder/number of shares held by the second largest shareholder | Type of actual controller | Actual controller (G5) | If the last controlling shareholder belongs to state-owned holding, take 1; otherwise take 0 | Board structure | Board size (G6) | Number of board members (natural logarithm) | Proportion of independent directors (G7) | Total number of independent directors/total number of directors | CEO status (G8) | The chairman and general manager shall be one person, otherwise 0 | Executive incentive | Shareholding ratio of senior executives (G9) | Total shares/total share capital held by senior executives at the end of the year |
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