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\ p None B a = c @ = Z ?N*8 X" 1 Arial1 Arial1 Arial1 Arial1 Arial1 Arial1 Arial General ` Table_1 -U @ Variable Type Acronym Operational definition Firm-year observations Return on Equity Dependent ROE! Net income / shareholders' equity 5,389 Return on Assets ROA Operating income / total assets 5,497
Ebitda Margin EBITDAL Earnings before interest, tax, depreciation, and amortization / net revenues 5,448M Growth in the Valor ranking of largest 1,000 companies in the prior two years GROWTHc Position in the ranking of the 1,000 largest companies two years earlier minus its current position 5,056 Overall Employee Satisfaction Explanatory OV_SATISFCT[ Average score of employees on a 1-5 scale about their overall satisfaction with their firms 3,116! Company recommendation for others RECOMEND; Percentage of employees who recommend the company to others 3,085 Culture CULTUREC Average score of employees for the dimension Culture on a 1-5 scale Compensation and Benefits COMP_BENU Average score of employees for the dimension Compensation and Benefits on a 1-5 scale Career Opportunities CAREER_OPP Average score of employees for the dimension Career Opportunities on a 1-5 scale Work/Life Balance Q_LIFEM Average score of employees for the dimension Work/Life Balance on a 1-5 scale Firm size Control SIZE! Natural logarithm of total assets 5,599 Financial leverage DEBT_LEVb Gross debt (short term debt and current portion of long-term debt + long term debt) / total assets' Country source of the company's capital COUNTRYC 1 for with Brazilian capital; 0, for companies with foreign capital 6,000$ Region of the company's headquarters SOUTHEAST_ REGION 1 if the firm's headquarters is located in Brazil's Southeast region (the most developed accounting for about 60% of Brazil's GDP); 0, otherwise Industry IND_ DUMMIEST Twenty-seven industry dummy variables using the Valor 1,000 newspaper classification Time
YEAR_ DUMMIESm Dummy variables defined as in the t-th year and otherwise, with t = 1,…,6 (2013,…, 2018)
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