Drivers of Corporate Digital Responsibility: A Machine Learning Approach

The study uses a sample that comprises leading companies listed in prominent stock indices from English-speaking countries, specifically: the FTSE 350 for the United Kingdom, the S&P 500 for the United States of America, the S&P ASX 200 for Australia, and the TSX 300 for Canada, over the period from January 12, 2010, to May 2, 2023.
Column Definition
Code Code
Company ID Company ID
Industry Industry Group
Year Year
Index Market Index
Country Market
Twitter Account (Dummy) Dummy variable; 1 if company has a twitter Account, and 0 otherwise.
Tot Posts Total Number of posts
Tot Posts Dummy Dummy variable; 1 if company has posted on twitter, and 0 otherwise.
Ln Tot Posts Natural logarithm of number of total posts.
CDR Posts Total Number of CDR posts
CDR Dummy Dummy variable; 1 if company has CDR posts, and 0 otherwise.
Ln CDR Ln CDR: Natural logarithm of CDR-related posts.
CDR Index CDR Index: ratio of CDR-related posts to total posts
ROA Net income to total assets
TA Total assets
TL Total liabilities
CR Current assets to current liabilities
MV market capitalization
Ln MV The Natural logarithm of market capitalization
Lev (TL/TA) Total liabilities to total assets
ESG Score Overall company score based on verifiable reported information in the environmental, social, and governance pillars. Ranges from 0 to 100.
Env Score Environmental pillar score, Includes emissions, innovation, resource use categories. Ranges from 0 to 100.
Social Score Social pillar score, Includes community, human rights, product responsibility, workforce categories. Ranges from 0 to 100.
Gov Score Governance pillar score, Includes CSR strategy, management, shareholders categories. Ranges from 0 to 100.
Global Innovation Index Score (0-100), Global Innovation Index Report
Global Innovation Index (Rank) Rank, Global Innovation Index Report