Table 1 Descriptive statistics Variable... | Emerald Publishing

Table 1

Descriptive statistics

Variable	N	Mean	P25	P50	P75
ICW	20,060	0.064	0.000	0.000	0.000
Hedge fund intervention	20,060	0.023	0.000	0.000	0.000
Size	20,060	6.408	5.092	6.396	7.705
Prior loss	20,060	0.316	0.000	0.000	1.000
ROA	20,060	−0.002	−0.029	0.053	0.110
Leverage	20,060	0.458	0.004	0.141	0.434
Sales growth	20,060	0.116	−0.032	0.066	0.181
PPE	20,060	1.063	1.033	1.069	1.099
Return	20,060	0.141	−0.238	0.038	0.331
Big4	20,060	0.643	0.000	1.000	1.000
Auditor change	20,060	0.052	0.000	0.000	0.000
Firm age	20,060	22.106	11.000	17.000	29.000
KZ index	20,060	−10.188	−7.797	−1.860	0.598

Variable	N	Mean	P25	P50	P75
ICW	20,060	0.064	0.000	0.000	0.000
Hedge fund intervention	20,060	0.023	0.000	0.000	0.000
Size	20,060	6.408	5.092	6.396	7.705
Prior loss	20,060	0.316	0.000	0.000	1.000
ROA	20,060	−0.002	−0.029	0.053	0.110
Leverage	20,060	0.458	0.004	0.141	0.434
Sales growth	20,060	0.116	−0.032	0.066	0.181
PPE	20,060	1.063	1.033	1.069	1.099
Return	20,060	0.141	−0.238	0.038	0.331
Big4	20,060	0.643	0.000	1.000	1.000
Auditor change	20,060	0.052	0.000	0.000	0.000
Firm age	20,060	22.106	11.000	17.000	29.000
KZ index	20,060	−10.188	−7.797	−1.860	0.598

Note(s): This table reports the descriptive statistics of our sample. Our sample consists of 20,060 firm-year observations in total. All variables are defined in Appendix 1. The sample period is from 2002 to 2014