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Corporate Life Cycle And Financial Performance In Terms Of Emerging Markets

Table 2: Variables and their formula

Variables
Acronym Name Formula
PROFI Profitability R O A = E A T T o t a l a s s e t s
LEV Leverage T o t a l l e v e r a g e = l o n g - t e r m l i a b i l i t i e s + c u r r e n t l i a b i l i t i e s T o t a l a s s e t s
SIZE Size S i z e = ln ( E B I T )
AGE Age of company Company´s age (Difference between date of incorporation and date of firm year observation)
CYCLE Life cycle stage Life cycle stages according to Dickinson (2011) model
COUNTRY Country dummy Country affiliation (the Czech Republic, the Czech Republic)
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