Table 1 Sample description Description... | Emerald Publishing

Table 1

Sample description

Description	2013	2014	2015	2016	2017	2018	2019	2020	2021	Total
Panel A – Number of firms
Initial firm’s sample	137	155	151	147	149	147	142	138	137	1,303
First filter	−20	−24	−25	−21	−20	−19	−19	−17	−17	−182
Second filter	−9	−8	−2	−1	−1	0	0	0	0	−21
Third filter	−11	−15	−13	−14	−14	−14	−15	−13	−17	−126
Final firm’s sample	97	108	111	111	114	112	108	108	103	972

Description	2013	2014	2015	2016	2017	2018	2019	2020	2021	Total
Panel A – Number of firms
Initial firm’s sample	137	155	151	147	149	147	142	138	137	1,303
First filter	−20	−24	−25	−21	−20	−19	−19	−17	−17	−182
Second filter	−9	−8	−2	−1	−1	0	0	0	0	−21
Third filter	−11	−15	−13	−14	−14	−14	−15	−13	−17	−126
Final firm’s sample	97	108	111	111	114	112	108	108	103	972

Panel B – Number and percentage of directors by type of director
Executive directors
N	184	189	190	182	179	170	173	172	161	1,600
%	16.68	15.57	15.59	14.95	14.45	13.68	14.37	14.76	14.11	14.89
Proprietary directors
N	475	518	480	442	431	453	411	395	385	3,990
%	43.06	42.67	39.38	36.32	34.79	36.44	34.14	33.90	33.74	37.13
Independent directors
N	381	425	461	498	531	511	521	514	509	4,351
%	34.54	35.01	37.82	40.92	42.86	41.11	43.27	44.12	44.61	40.49
Initial sample of directors	1,040	1,132	1,131	1,122	1,141	1,134	1,105	1,081	1,055	9,941

Source(s): Authors’ own work