Descriptive statistics
| Minimum | Maximum | Mean | Std. deviation | |
|---|---|---|---|---|
| CPC | 0 | 1 | 0.87 | 0.341 |
| CSC | 0 | 1 | 0.41 | 0.492 |
| LSC | 0 | 1 | 0.45 | 0.499 |
| Non-GovC | 0 | 1 | 0.14 | 0.345 |
| SSE | 0 | 1 | 0.71 | 0.455 |
| SHSE | 0 | 1 | 0.28 | 0.450 |
| HK | 0 | 1 | 0.27 | 0.447 |
| NY | 0 | 1 | 0.09 | 0.292 |
| London | 0 | 1 | 0.03 | 0.162 |
| Big-Four | 0 | 1 | 0.51 | 0.501 |
| Intl operation | 0 | 1 | 0.59 | 0.492 |
| ConD | 0 | 1 | 0.12 | 0.326 |
| ConS | 0 | 1 | 0.07 | 0.256 |
| Energy | 0 | 1 | 0.09 | 0.287 |
| F-Banking | 0 | 1 | 0.10 | 0.301 |
| F-NB | 0 | 1 | 0.09 | 0.287 |
| Materials | 0 | 1 | 0.18 | 0.383 |
| INDCG | 0 | 1 | 0.04 | 0.197 |
| INDTran | 0 | 1 | 0.14 | 0.348 |
| Utilities | 0 | 1 | 0.14 | 0.348 |
| Others | 0 | 1 | 0.03 | 0.171 |
| Log(Inc) | 8.6333 | 12.3087 | 10.221658 | 0.6560969 |
| Overall disclosure | 0 | 33 | 11.84 | 9.344 |
| Minimum | Maximum | Mean | Std. deviation | |
|---|---|---|---|---|
| CPC | 0 | 1 | 0.87 | 0.341 |
| CSC | 0 | 1 | 0.41 | 0.492 |
| LSC | 0 | 1 | 0.45 | 0.499 |
| Non-GovC | 0 | 1 | 0.14 | 0.345 |
| SSE | 0 | 1 | 0.71 | 0.455 |
| SHSE | 0 | 1 | 0.28 | 0.450 |
| HK | 0 | 1 | 0.27 | 0.447 |
| NY | 0 | 1 | 0.09 | 0.292 |
| London | 0 | 1 | 0.03 | 0.162 |
| Big-Four | 0 | 1 | 0.51 | 0.501 |
| Intl operation | 0 | 1 | 0.59 | 0.492 |
| ConD | 0 | 1 | 0.12 | 0.326 |
| ConS | 0 | 1 | 0.07 | 0.256 |
| Energy | 0 | 1 | 0.09 | 0.287 |
| F-Banking | 0 | 1 | 0.10 | 0.301 |
| F-NB | 0 | 1 | 0.09 | 0.287 |
| Materials | 0 | 1 | 0.18 | 0.383 |
| INDCG | 0 | 1 | 0.04 | 0.197 |
| INDTran | 0 | 1 | 0.14 | 0.348 |
| Utilities | 0 | 1 | 0.14 | 0.348 |
| Others | 0 | 1 | 0.03 | 0.171 |
| Log(Inc) | 8.6333 | 12.3087 | 10.221658 | 0.6560969 |
| Overall disclosure | 0 | 33 | 11.84 | 9.344 |
Source(s): Authors’ own work
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