Impact of Financing Constraints on Firm Performance: Moderating Effect Based on Firm Size

Table 1

Variable definition table.

Variable type	Variable abbreviation	Variable definitions
Explained variable	Tobin’s Q	Measure business performance
Explanatory variables	KZ	Measure the degree of corporate financing constraints
Moderator	SIZE	Company size, log total assets: LN (total assets)
Control variable	AGE	The age of the enterprise, according to the time of establishment of the enterprise, calculate the time span of the year under study
	LEV	Asset-liability ratio = total liabilities at the end of the period/total assets at the end of the period
	BPS	Net assets per share = shareholders’ equity/total share capital