Dataset for The Triangulation between Shariah Compliance, ESG Transparency, and Firm Profitability

All data associated in this folder are derived from the Refinitive Eikon Database except for the dummy variable.

Dependent Variables
- ROAit (Return on Assets): Measures firms' operational performance (accounting-based) by the ratio of net income to total assets.
- ROEit (Return on Equity): Measures firms' operational performance (accounting-based) by the ratio of net income to total equity.

Independent Variables
- ESGSit: Combined ESG score, ranging from 0 to 100 as a percentage, measuring the company's involvement in ESG practices.
- Envsit: Environmental score, ranging from 0 to 100 as a percentage, measuring the company's involvement in environmental practices.
- Socsit: Social score, ranging from 0 to 100 as a percentage, measuring the company's involvement in social practices.
- Govsit: Governance score, ranging from 0 to 100 as a percentage, measuring the company's involvement in governance practices.
- Leadersit: Dummy variable for ESG Leaders, where 1 represents the highest level of integration between Shariah and ESG screening (leaders), and 0 represents a lower integration of ESG screenings with other Shariah-compliant firms.

Moderating Variables
- ESGS*Leadersit: Interaction of ESG Score with Dummy Variable for ESG Leaders.
- Envs*Leadersit: Interaction of Environmental Score with Dummy Variable for ESG Leaders.
- Socs*Leadersit: Interaction of Social Score with Dummy Variable for ESG Leaders.
- Govs*Leadersit: Interaction of Governance Score with Dummy Variable for ESG Leaders.

Controlling Variables
- SIZEit (Firm Size): Natural logarithms of total assets.
- LEVit (Financial Leverage): The ratio of total debt to equity.
- LIQit (Liquidity): The ratio of total current assets to total current liabilities.
- CAPEXit (Capital Expenditure): Interest expenses from operating cash flow.