Corporate social responsibility marketing; a way to firm performance; an empirical study: case of Egypt

Future Business Journal

Table 1 Variable definition

Variable	Definition
ROA_it	Dependent variable (DV₁) firm i net income in year t divided by firm i total assets in year t
ROEi_t	Dependent variable (DV2) firm i net income in year t divided by firm i shareholders’ equity in year t
EBIT_it	Dependent variable (DV₃) firm i earnings before income tax in year t
CSRMRKT_it	Independent variable (IV)firm i CSR market index value
SEC_it	Firm sector (Control variable)
SN_it	firm i number of shares at year i logarithm^a (Control variable)
LEV_it	Firm leverage; Total debt divided by Total assets (Control variable)
β	Estimated variables parameters
ε_it	the error term

^aThe utilization of logarithmic transformation can be employed to effectively mitigate concerns related to heteroscedasticity, which pertains to unequal variance, as well as nonlinearity in the dataset. Moreover, this transformation facilitates the enhancement of interpretability of the correlations between variables on a percentage scale [54]