Table I Descriptive statistics Variable... | Emerald Publishing

Table I

Descriptive statistics

Variable	Pre-mandatory adoption			Post-mandatory adoption			Group difference
Variable	Obs	Mean	Std. dev.	Obs	Mean	Std. dev.	Mean diff	t-statistics	p-value
Panel A: descriptive statistics of voluntary adopting banks
C_rating	12	−0.0246	0.1008	20	−0.1884	1.1057	0.1638	0.658	0.5182
Llp	12	0.9658	0.6032	20	1.4555	2.4366	−0.4897	−0.8561	0.4009
Size	12	8.3733	0.2414	20	8.572	0.2508	−0.1987	−2.2208	0.0360
Lev	12	0.0358	0.0294	20	0.071	0.0459	−0.0352	−2.6424	0.0130
Going	12	0	0	20	0.35	0.4894	−0.35	−3.1986	0.0047
Fdi	12	0.1567	0.0098	20	0.226	0.0704	−0.0693	−4.3362	0.0003
Panel B: descriptive statistics of mandatory adopting banks
C_rating	36	−0.0417	0.3362	59	0.0262	0.1171	−0.0679	−1.1696	0.2490
Llp	36	1.2553	2.5805	59	0.8532	1.1627	0.4021	0.8818	0.3827
Size	36	7.8822	0.3807	60	7.8335	0.4034	0.0487	0.5936	0.5545
Lev	36	0.1125	0.2575	60	0.073	0.0476	0.0395	0.9111	0.3682
Going	36	0	0	60	0	0	0	-	-
Fdi	36	0.1567	0.0096	60	0.226	0.0692	−0.0693	−7.6441	0.0000

Variable	Pre-mandatory adoption			Post-mandatory adoption			Group difference
Variable	Obs	Mean	Std. dev.	Obs	Mean	Std. dev.	Mean diff	t-statistics	p-value
Panel A: descriptive statistics of voluntary adopting banks
C_rating	12	−0.0246	0.1008	20	−0.1884	1.1057	0.1638	0.658	0.5182
Llp	12	0.9658	0.6032	20	1.4555	2.4366	−0.4897	−0.8561	0.4009
Size	12	8.3733	0.2414	20	8.572	0.2508	−0.1987	−2.2208	0.0360
Lev	12	0.0358	0.0294	20	0.071	0.0459	−0.0352	−2.6424	0.0130
Going	12	0	0	20	0.35	0.4894	−0.35	−3.1986	0.0047
Fdi	12	0.1567	0.0098	20	0.226	0.0704	−0.0693	−4.3362	0.0003
Panel B: descriptive statistics of mandatory adopting banks
C_rating	36	−0.0417	0.3362	59	0.0262	0.1171	−0.0679	−1.1696	0.2490
Llp	36	1.2553	2.5805	59	0.8532	1.1627	0.4021	0.8818	0.3827
Size	36	7.8822	0.3807	60	7.8335	0.4034	0.0487	0.5936	0.5545
Lev	36	0.1125	0.2575	60	0.073	0.0476	0.0395	0.9111	0.3682
Going	36	0	0	60	0	0	0	-	-
Fdi	36	0.1567	0.0096	60	0.226	0.0692	−0.0693	−7.6441	0.0000

Source: Authors' computation using STATA (2018)