Table 1. Descriptive statistics Variable...

Table 1.

Descriptive statistics

Variable	Mean	Median	SD	Min.	Max.	P25	P75
Foreign divestment
FD	3.36	1.00	8.88	1.00	226.00	1.00	3.00
Divestment dummy	0.19	0.00	0.39	0.00	1.00	0.00	0.00
FD winsorized	3.05	1.00	4.65	1.00	32.00	1.00	3.00
Insolvency risk
CDS	20.85	16.07	21.51	0.00	393.69	9.75	25.51
Log CDS	2.71	2.77	0.87	−7.36	5.98	2.28	3.24
DD	4.81	4.42	3.11	−2.62	54.11	2.85	6.21
Log DD	1.39	1.50	0.69	−3.48	3.99	1.06	1.83
Control variables
ROA	5.69	5.81	11.21	−202.81	157.38	3.00	9.35
Int. experience	66.94	72.54	30.28	0.00	673.15	48.26	91.86
Size (log of assets)	13.41	13.42	1.81	8.44	18.81	12.03	14.77
Total assets (millions)	2,830.17	675.70	6,168.51	4.63	147,512.00	167.41	2,602.90
Leverage	0.57	0.58	0.19	0.01	3.63	0.47	0.67
Liquidity	0.49	0.49	0.18	0.03	1.00	0.36	0.62
Tangibility	0.28	0.26	0.18	0.00	0.83	0.14	0.41
Sales to assets	1.07	1.02	0.48	−0.10	3.83	0.78	1.33
Tobin’s Q	0.56	0.57	0.17	0.01	3.36	0.47	0.66
CSR	53.22	55.90	20.31	3.2	93.29	39.15	68.83

Variable	Mean	Median	SD	Min.	Max.	P25	P75
Foreign divestment
FD	3.36	1.00	8.88	1.00	226.00	1.00	3.00
Divestment dummy	0.19	0.00	0.39	0.00	1.00	0.00	0.00
FD winsorized	3.05	1.00	4.65	1.00	32.00	1.00	3.00
Insolvency risk
CDS	20.85	16.07	21.51	0.00	393.69	9.75	25.51
Log CDS	2.71	2.77	0.87	−7.36	5.98	2.28	3.24
DD	4.81	4.42	3.11	−2.62	54.11	2.85	6.21
Log DD	1.39	1.50	0.69	−3.48	3.99	1.06	1.83
Control variables
ROA	5.69	5.81	11.21	−202.81	157.38	3.00	9.35
Int. experience	66.94	72.54	30.28	0.00	673.15	48.26	91.86
Size (log of assets)	13.41	13.42	1.81	8.44	18.81	12.03	14.77
Total assets (millions)	2,830.17	675.70	6,168.51	4.63	147,512.00	167.41	2,602.90
Leverage	0.57	0.58	0.19	0.01	3.63	0.47	0.67
Liquidity	0.49	0.49	0.18	0.03	1.00	0.36	0.62
Tangibility	0.28	0.26	0.18	0.00	0.83	0.14	0.41
Sales to assets	1.07	1.02	0.48	−0.10	3.83	0.78	1.33
Tobin’s Q	0.56	0.57	0.17	0.01	3.36	0.47	0.66
CSR	53.22	55.90	20.31	3.2	93.29	39.15	68.83

Note(s):

This table reports the descriptive statistics for the variables used in this study. The sample comprises 667 firm-year observations from 119 Nordic MNEs over 1992–2019. It uses all firm-year observations with non-missing divestment, insolvency risk (DD and/or CDS), and control variables. Model-specific Ns may be lower due to additional variable requirements or lags; each model reports its own N

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