equities ratio Firm size ln_TA Natural logarithm of total assets Growth Rate Growth (Revenuest-Revenuest-1)/Revenuest-1 Industry INDUSF Industry fixed effect Country COUNF Country fixed effect Year YF Year
gross profit margin for 2018 was 47.4%. This gross margin had accounted for the fair value adjustment of the acquired business according to the accounting standards under WHA level. However, the genuine
𝑎𝑎ℎ𝑀𝑀𝑇𝑇𝑇𝑇ℎ𝑇𝑇𝑙𝑙𝑢𝑢𝑇𝑇𝑇𝑇 𝑥𝑥 100 𝑇𝑇𝑇𝑇𝑀𝑀𝑀𝑀𝑙𝑙 𝑎𝑎ℎ𝑀𝑀𝑇𝑇𝑇𝑇𝑎𝑎 • Size is the natural logarithm of total tangible asset. • Corporate governance (CG) is the score of corporate governance evaluation conducted by
business according to the accounting standards under WHA level. However, the genuine gross margin in were at 53.0% and 51.1%, respectively. The decrease in genuine gross margin, compared to the same period
business according to the accounting standards under WHA level. However, the genuine gross margin in were at 53.0% and 51.1%, respectively. The decrease in genuine gross margin, compared to the same period
genuine gross margin in were at 52.5% and 51.5%, respectively. The decrease in genuine gross margin, compared to the same period of last year, was mainly due to change in product mix between Built-to-Suit
. However, the genuine gross margin in the second quarter of 2017 was at 60.6% for the warehouse rental and service business which decreased from 68.8% last year, mainly due to change in product mix between
standards under WHA level. However, the genuine gross margin in the first quarter of 2019 was at 49.0% for the warehouse rental and service business which decreased from 51.5% in the same period of previous
level. However, the genuine gross margin in the first quarter of 2020 was at 69.6% which increased from 54.4% in the same period of previous year, mainly due to higher occupancy rate. 2. Sale of
Weekly Market Capitalization Free Float (FF) = Total paid - up capital - Total stocks under strategic shareholder x 100 Total shares • Size is the natural logarithm of total tangible asset. • Corporate