Descriptive statistics for the pooled sample (N = 9,337)
| Variable | Mean | Median | St. dev | Min | Max |
|---|---|---|---|---|---|
| Sales Growth | 0.807 | 0.396 | 1.522 | −5.998 | 7.790 |
| R&D | 0.315 | 0.248 | 0.273 | 0.000 | 1.000 |
| AGE | 1.861 | 2.000 | 0.917 | 1.000 | 6.000 |
| SIZE | 250.543 | 64.017 | 1,149.464 | 0.001 | 63,103.961 |
| GRADUATES | 663.507 | 587.174 | 405.135 | 12.390 | 1,375.476 |
| Variable | Mean | Median | St. dev | Min | Max |
|---|---|---|---|---|---|
| Sales Growth | 0.807 | 0.396 | 1.522 | −5.998 | 7.790 |
| R&D | 0.315 | 0.248 | 0.273 | 0.000 | 1.000 |
| AGE | 1.861 | 2.000 | 0.917 | 1.000 | 6.000 |
| SIZE | 250.543 | 64.017 | 1,149.464 | 0.001 | 63,103.961 |
| GRADUATES | 663.507 | 587.174 | 405.135 | 12.390 | 1,375.476 |
Note(s): “Size”, proxied by “Total Assets”, is expressed in thousands of Euro. “Graduates” is expressed in thousands of units. In the panel regression the natural logarithms of “Total Assets” and “Graduates” are used
Source(s): Authors’ own creation
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