*3.1.2.1 Endogenous variables*

In this subsection, we present the FP measures. The main variable to explain was represented by four dependent variables: profitability, efficiency, liquidity, and solvency. **Table 1** shows the parameters we worked on, the symbols, and the respective reports.

### *3.1.2.2 Exogenous variables*

Throughout the remaining part of this work, banks' FP is explained by four BOD determinants. Referring to the review of the previous literature, the predominantly independent variables were described in **Table 2** as follows:

## *3.1.2.3 Measurements of additional explanatory variables*

**Table 3** displays the list of control variables supported by some previous studies that employed the same variables and their measures.


### **Table 1.**

*Description of variables to explain.*

<sup>2</sup> We excluded insurance companies, micro-credit companies, indirect finance companies, financing windows, and mixed conventional and Islamic banks and conventional banks that have Islamic windows and vice versa.


### **Table 2.**

*Description of the explanatory variables.*


### **Table 3.**

*Description of control variables.*

### *3.1.3 Presentation of models to estimate*

In this subsection, we aim to detail and symbolize the basic models that will allow us to answer the questions already mentioned in the theoretical part. Also, it is necessary to present the standard models to reassess the FP several times, and each time the dependent variable will be changed according to the estimates of the conventional or participatory financial institutions. In what follows, as it appears in

*Impacts of Board Quality on Financial Performance in Conventional… DOI: http://dx.doi.org/10.5772/intechopen.112089*


**Table 4.**

*Approximation of models to be estimated related to conventional and participatory banks.*

**Table 4**, we have moved to the exhibition of adequate models best suited to our data while explaining the meaning of all the constitutive variables.
