Table 2 Summary of statistics Variables...

Table 2

Summary of statistics

Variables	N	Mean	SD	Min	P25	P50	P75	Max
TBQ	303	1.681	1.340	0.000	1.050	1.457	2.132	7.418
ROA	303	0.038	0.061	−0.218	0.013	0.038	0.069	0.204
ROE	303	0.063	0.147	−0.789	0.029	0.073	0.123	0.427
ESG	303	0.733	0.050	0.576	0.704	0.736	0.767	0.839
Size	303	22.204	1.297	19.951	21.266	21.990	22.913	26.352
Lev	303	0.423	0.210	0.053	0.253	0.414	0.580	0.918
CAR	303	0.047	0.070	−0.161	0.007	0.046	0.088	0.247
GRW	303	0.149	0.381	−0.540	−0.028	0.085	0.247	2.365
Age	303	2.070	0.921	0.000	1.386	2.303	2.833	3.367
B_indp	303	0.377	0.054	0.333	0.333	0.364	0.429	0.571
Bsize	303	2.115	0.195	1.609	1.946	2.197	2.197	2.639
Top1	303	0.342	0.147	0.087	0.229	0.320	0.439	0.741
Duality	303	0.278	0.448	0.000	0.000	0.000	1.000	1.000
Bgender	303	0.132	0.133	0.000	0.000	0.111	0.222	0.556
Liq	303	0.003	0.060	−2.455	−0.005	0.009	0.023	3.384

Variables	N	Mean	SD	Min	P25	P50	P75	Max
TBQ	303	1.681	1.340	0.000	1.050	1.457	2.132	7.418
ROA	303	0.038	0.061	−0.218	0.013	0.038	0.069	0.204
ROE	303	0.063	0.147	−0.789	0.029	0.073	0.123	0.427
ESG	303	0.733	0.050	0.576	0.704	0.736	0.767	0.839
Size	303	22.204	1.297	19.951	21.266	21.990	22.913	26.352
Lev	303	0.423	0.210	0.053	0.253	0.414	0.580	0.918
CAR	303	0.047	0.070	−0.161	0.007	0.046	0.088	0.247
GRW	303	0.149	0.381	−0.540	−0.028	0.085	0.247	2.365
Age	303	2.070	0.921	0.000	1.386	2.303	2.833	3.367
B_indp	303	0.377	0.054	0.333	0.333	0.364	0.429	0.571
Bsize	303	2.115	0.195	1.609	1.946	2.197	2.197	2.639
Top1	303	0.342	0.147	0.087	0.229	0.320	0.439	0.741
Duality	303	0.278	0.448	0.000	0.000	0.000	1.000	1.000
Bgender	303	0.132	0.133	0.000	0.000	0.111	0.222	0.556
Liq	303	0.003	0.060	−2.455	−0.005	0.009	0.023	3.384

Note(s): This table presents the descriptive statistics for the main study variables. The sample consists of 303 firm-year observations spanning the period from 2012 to 2022. The table includes the number of observations (N), standard deviation (SD), minimum (Min), and maximum (Max) values, as well as the 25th (P25), 50th (P50), and 75th (P75) percentiles. Definitions of all variables are provided in Table 1

Source(s): Authors’ own work

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