Descriptive statistics of performance measures in pre- and post-adoption periods
| Ratio | Pre- adoption period (2014–2016) | Post- adoption period (2017–2019) | ||
|---|---|---|---|---|
| Mean | Std. Dev. | Mean | Std. Dev. | |
| Profitability | ||||
| Return on assets | 0.0829 | 0.0142 | 0.0879 | 0.4211 |
| Return on equity | 0.1526 | 0.0139 | 0.1605 | 0.3298 |
| Net profit margin | 0.1629 | 0.0961 | 0.1904 | 0.0169 |
| Overall mean | 0.1328 | 0.1463 | ||
| Liquidity | ||||
| Current ratio | 1.3112 | 0.0756 | 1.1104 | 0.8211 |
| Quick ratio | 1.2071 | 0.2967 | 1.1206 | 0.3651 |
| Operating cash flow coverage | 0.6592 | 0.8342 | 0.4828 | 0.0684 |
| Overall mean | 1.0592 | 0.9046 | ||
| Leverage | ||||
| Debt ratio | 0.4295 | 0.06981 | 0.4409 | 0.0981 |
| Equity ratio | 0.5441 | 0.1796 | 0.5480 | 0.1368 |
| Debt to equity | 0.8046 | 0.5137 | 0.7892 | 0.0887 |
| Overall mean | 0.5876 | 0.5978 | ||
| Ratio | Pre- adoption period (2014–2016) | Post- adoption period (2017–2019) | ||
|---|---|---|---|---|
| Mean | Std. Dev. | Mean | Std. Dev. | |
| Return on assets | 0.0829 | 0.0142 | 0.0879 | 0.4211 |
| Return on equity | 0.1526 | 0.0139 | 0.1605 | 0.3298 |
| Net profit margin | 0.1629 | 0.0961 | 0.1904 | 0.0169 |
| 0.1328 | 0.1463 | |||
| Current ratio | 1.3112 | 0.0756 | 1.1104 | 0.8211 |
| Quick ratio | 1.2071 | 0.2967 | 1.1206 | 0.3651 |
| Operating cash flow coverage | 0.6592 | 0.8342 | 0.4828 | 0.0684 |
| 1.0592 | 0.9046 | |||
| Debt ratio | 0.4295 | 0.06981 | 0.4409 | 0.0981 |
| Equity ratio | 0.5441 | 0.1796 | 0.5480 | 0.1368 |
| Debt to equity | 0.8046 | 0.5137 | 0.7892 | 0.0887 |
| 0.5876 | 0.5978 | |||
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