Firm size (SIZE) is measured in several ways: for example, total

assets (Inoue and

Lee, 2011; Brammer and Millington, 2008); total sales (Hillman and Keim,
2001; Lee
and Park, 2009; Inoue and Lee, 2011); and total employees (Inoue and Lee,
2011). There
is no overwhelming theoretical or empirical evidence supporting the use of a
particular
measure (Galbreath, 2012). Large firms have abundant resources to invest in
innovation,
pursue more aggressive growth strategies and achieve better performance.
Large firms
benefit from economies of scale, scope and learning (Huang, 2010;
Eisenberg, et al.,
1998). In this study, SIZE is measured as the natural logarithm of total
assets.
Firm Size. Many researchers have explained the link between firm size and firm
performance in a number of ways. Firm size is one of the most important control
variables in the current study. Firm Size is calculated by taking the natural log of total
assets. In this model, ROA is the dependent variable; firm size will be calculated as
natural log of net sales.