Big Data Analysis on the Effect of Cost Stickiness on Digital Transformation

Table 1

Definition of main variables.

Variable	Measurement
Lncost	The log-change in total operating costs
Lnincome	The log-change in total operating revenue
N	Logarithm of disclosure times of keywords related to digital transformation
D	Dummy variable that equals one if sales decreased in the current year and zero otherwise
DD	Dummy variable that equals one if the operating income decreases for two consecutive years and zero otherwise
Gdpgrowth	GDP growth rate of provinces where listed companies are located
Eintensity	Ratio of the number of employees to the operating income of the current year
Aintensity	Ratio of total assets to operating income of the current year
Lnsize	Logarithm of total assets
os	Ratio of total liabilities to total assets
IDRZ	Proportion of independent directors in the board of directors
Mshare	Proportion of the number of shares held by the management in the total number of shares
Dual	Dummy variable that equals one if the chairman and general manager are in one position and zero otherwise
Lnage	Ln (year of the current year − year of listing + 1)