Table 1. Sample design Particulars...

Table 1.

Sample design

Particulars	Companies	Observations
Panel A: Sample selectionInitial Data from Dhaka Stock Exchange-listed firms, 2018–2021	589	1,767
Less- observations excluded due to the distinctive nature of operations such as mutual funds, bonds, debentures, etc	−294	−882
Less- Companies and observations excluded due to missing data	−119	−416
Final sample (unbalanced panel)	176	469
Panel B: sample distribution by industry	N	%
Bank	57	12.15
Cement	15	3.20
Ceramic	9	1.92
Engineering	62	13.22
Financial institutions	43	9.17
Food and allied	17	3.62
Fuel and power	41	8.74
Insurance	64	13.65
IT sector	13	2.77
Pharmaceuticals and chemicals	42	8.96
Textile	88	18.76
Others	18	3.84
Total	469	100
Panel C: sample distribution by year
T₁	176	37.53
T₂	166	35.39
T₃	127	27.08
Total	469	100

Particulars	Companies	Observations
Panel A: Sample selectionInitial Data from Dhaka Stock Exchange-listed firms, 2018–2021	589	1,767
Less- observations excluded due to the distinctive nature of operations such as mutual funds, bonds, debentures, etc	−294	−882
Less- Companies and observations excluded due to missing data	−119	−416
Final sample (unbalanced panel)	176	469
Panel B: sample distribution by industry	N	%
Bank	57	12.15
Cement	15	3.20
Ceramic	9	1.92
Engineering	62	13.22
Financial institutions	43	9.17
Food and allied	17	3.62
Fuel and power	41	8.74
Insurance	64	13.65
IT sector	13	2.77
Pharmaceuticals and chemicals	42	8.96
Textile	88	18.76
Others	18	3.84
Total	469	100
Panel C: sample distribution by year
T₁	176	37.53
T₂	166	35.39
T₃	127	27.08
Total	469	100

Source: Authors’ own creation