Table 3. Summary statistics for...

Table 3.

Summary statistics for categorical variables

Variable*	Description	Category	Frequency	%
Lender approval indicator	Whether customer was approved by the lender	Yes/No Yes/No	45,782 22,381	67.17 32.83
Customer acceptance indicator	Whether loan offer was accepted by the customer	Yes/No Yes/No	26,509 41,654	38.89 61.11
Deposit relationship	Whether customer has a deposit relationship with lender	Yes/No Yes/No	6,491 61,672	9.52 90.48
Risk class**	Risk tier that customer belongs to	Tier 1/Tier2/Tier3	37,212	54.59
		Tier 1/Tier2/Tier3	17,907	26.27
		Tier 1/Tier2/Tier3	13,044	19.14

Variable*	Description	Category	Frequency	%
Lender approval indicator	Whether customer was approved by the lender	Yes/NoYes/No	45,78222,381	67.1732.83
Customer acceptance indicator	Whether loan offer was accepted by the customer	Yes/NoYes/No	26,50941,654	38.8961.11
Deposit relationship	Whether customer has a deposit relationship with lender	Yes/NoYes/No	6,49161,672	9.5290.48
Risk class**	Risk tier that customer belongs to	Tier 1/Tier2/Tier3	37,212	54.59
		Tier 1/Tier2/Tier3	17,907	26.27
		Tier 1/Tier2/Tier3	13,044	19.14

Notes:

*Region and manufacturer are also categorical variables we control for, both with many levels. Therefore, they are not represented in Table 3 for simplicity; **customer risk increases from Tier 1 to Tier 3

Source: Authors’ own work

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