Sample construction
| The initial sample | 139 |
| Number of financial firms | 61 |
| Number of manufacturing firms | 78 |
| Companies whose financial reports cannot be fully accessed and are intermittent as of 2016 | 11 |
| Final sample | 67 |
| The initial sample | 139 |
| Number of financial firms | 61 |
| Number of manufacturing firms | 78 |
| Companies whose financial reports cannot be fully accessed and are intermittent as of 2016 | 11 |
| Final sample | 67 |
Source(s): Authors' own work
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