VOLUME II
Table 1: Summary of Variables Variable Name Boardroom PercentWD
Definition Size of the boardroom for a company; total number of directors in the boardroom. Proportion of women directors in the boardroom, calculated by dividing the number of women directors by the total number of directors in the boardroom
ROA
Return on assets for a company, calculated by dividing a company's annual earnings by its total assets.
CurrentRatio
A liquidity and efficiency ratio that measures a firm’s ability to pay off its short-term liabilities with its current assets. Calculated by dividing current assets by current liabilities.
Solvent Leverage
Denotes the solvency ratio of the firm
TobinsQ Firmage Ln(AssetUSD) PercentIndep
Ratio of the firm's market value to its book value of assets.
3.2
Denotes a firm's financial leverage, which is defined as the degree to which a company uses fixed-income securities, such as debt and preferred equity. Denotes the firm’s age in years Natural logarithm of the firm's total assets (in USD) in the stated year Proportion of independent directors in the boardroom. Data is available only for years 2014 and 2015.
Overall Descriptive Statistics for Company Performance The subsample for which complete financial data was available was used to
determine the level of female representation in publicly listed companies in the NSE. The subsample contained data for 804 firms over 10 years. Table 2 below displays the key statistics on variables measuring firm performance.
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