Table 2 Summary statistics of main...

Table 2

Summary statistics of main variables

	Num	Mean	Sd	P25	Median	P75
	(1)	(2)	(3)	(4)	(5)	(6)
NCSKEW_t+1	65,489	−0.018	1.143	−0.674	−0.022	0.625
IDDR_t	65,489	0.168	0.374	0.000	0.000	0.000
IDD_t	65,489	0.560	0.496	0.000	1.000	1.000
NCSKEW_t	65,489	0.002	1.062	−0.641	−0.026	0.595
DTURN_t	65,489	0.002	0.085	−0.025	0.000	0.027
SIGMA_t	65,489	0.070	0.037	0.044	0.062	0.086
RET_t	65,489	−0.003	0.009	−0.008	−0.002	0.002
SIZE_t	65,489	5.455	1.952	4.031	5.338	6.765
MB_t	65,489	3.202	4.109	1.261	2.092	3.627
LEV_t	65,489	0.193	0.186	0.014	0.157	0.315
ROA_t	65,489	−0.015	0.215	−0.020	0.038	0.080
ACCM_t	65,489	0.074	0.089	0.018	0.045	0.093

	Num	Mean	Sd	P25	Median	P75
	(1)	(2)	(3)	(4)	(5)	(6)
NCSKEW_t+1	65,489	−0.018	1.143	−0.674	−0.022	0.625
IDDR_t	65,489	0.168	0.374	0.000	0.000	0.000
IDD_t	65,489	0.560	0.496	0.000	1.000	1.000
NCSKEW_t	65,489	0.002	1.062	−0.641	−0.026	0.595
DTURN_t	65,489	0.002	0.085	−0.025	0.000	0.027
SIGMA_t	65,489	0.070	0.037	0.044	0.062	0.086
RET_t	65,489	−0.003	0.009	−0.008	−0.002	0.002
SIZE_t	65,489	5.455	1.952	4.031	5.338	6.765
MB_t	65,489	3.202	4.109	1.261	2.092	3.627
LEV_t	65,489	0.193	0.186	0.014	0.157	0.315
ROA_t	65,489	−0.015	0.215	−0.020	0.038	0.080
ACCM_t	65,489	0.074	0.089	0.018	0.045	0.093

Note(s): This table reports summary statistics of variables used in the regressions estimated by the full sample consists of firm-year observations. Columns (1)-(6) report the summary statistics of the variables in the full sample. Variable definitions are provided in Table A1 in Appendix

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