Table 1

Descriptive statistics (N = 19,206)

VariablesaMeanStd. DevMedianVariablesaMeanStd. DevMedian
INTAUD0.0610.2390SUB14.50117.9849
LAG4.4620.3124.488SWITCH0.0780.2680
RESTA0.0350.1850OPIN0.0460.2090
LNTA15.0851.30914.936GROWTH0.2090.6310.106
LEV0.4770.2190.478MVBV4.2274.5362.996
ROA0.0360.0610.035RAISE0.2700.4440
LOSS0.1050.3060AGE11.0506.23911
CONT0.2110.4080TENURE8.3235.6107
EPSG0.6660.4710ARTA0.1240.1110.097
OVERLIST0.0360.18/70IPO0.1040.3050
SOE0.4980.5000    

Note(s): aAll variables are defined in  Appendix

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