| Variables |
Measurement of variables |
| Dependent Variable: |
|
| Financial Performance: |
|
| Profitability |
Profit before tax |
| Return on Asset (ROA) |
Net income after tax / ∑ assets |
| Inventory Turnover |
Cost of goods sold / Average inventory |
| Independent variables: |
|
| CG variables: |
|
| Board size |
∑ Number of directors on board |
| Proportion of Non-Executive Directors |
Percentage of Independent Non-Executive Directors (INEDs) to ∑ directors |
| Audit committee |
Number of Audit committee on board |
| Board meeting |
Frequency of board meeting |
