Investment | {{{\rm{Purchase}}\,{\rm{of}}\,{\rm{property,}}\,{\rm{plant,}}\,{\rm{equipment}}\,{\rm{and}}\,{\rm{intangible}}\,{\rm{asset}}{{\rm{s}}_t}} \over {{\rm{Property,}}\,{\rm{plant}}\,{\rm{and}}\,{\rm{equipmen}}{{\rm{t}}_{{\rm{t - 1}}}}}} |
Tobin's Q | {{{\rm{Firm's}}\,{\rm{market}}\,{\rm{valu}}{{\rm{e}}_t}} \over {{\rm{Total}}\,{\rm{Asset}}{{\rm{s}}_t}}} |
Cash Flow | {{{\rm{Cash}}\,{\rm{flow}}\,{\rm{from}}\,{\rm{operating}}\,{\rm{activitie}}{{\rm{s}}_t}} \over {{\rm{Total}}\,{\rm{Asset}}{{\rm{s}}_{{\rm{t - 1}}}}}} |
Business sector | \left\{ {\matrix{{1 - {\rm{Construction}}} \hfill \cr {2 - {\rm{Trade}}} \hfill \cr {3 - {\rm{Other}}\,{\rm{services}}} \hfill \cr {4 - {\rm{Manufacturing}}} \hfill \cr } } \right. |
Size | \left\{ {\matrix{{0 - {\rm{Small}}\,{\rm{firms}}} \cr {1 - {\rm{Medium}} - {\rm{sized}}\,{\rm{firms}}} \cr {2 - {\rm{Large}}\,{\rm{firms}}} \cr } } \right. |