Descriptive statistics
| Variable | Obs | Mean | Std. dev. | Min | Max |
|---|---|---|---|---|---|
| Return on assets | 5523 | 2.405 | 4.253 | −42.62 | 65.87 |
| Return on equity | 5523 | 5.45 | 5.578 | −4.71 | 14.04 |
| EPS | 5523 | 79.142 | 90.665 | −49.994 | 253.956 |
| Tobin’s Q | 5523 | 0.004 | 0.003 | 0.001 | 0.07 |
| Equity multiplier | 5523 | 2.546 | 1.054 | 1.393 | 4.702 |
| Interest coverage | 5523 | 43.452 | 59.654 | −1.603 | 186.429 |
| Fixed charge coverage ratio | 5523 | 1.974 | 2.636 | 0 | 8.406 |
| Degree of financial leverage | 5523 | 1.182 | 0.903 | −0.179 | 2.956 |
| Debt-to-EBITDA ratio | 5523 | 7.258 | 5.822 | 1.111 | 19.9 |
| Capitalization ratio | 5523 | 0.513 | 0.199 | 0 | 1.557 |
| Age of the firms | 5523 | 64.474 | 16.564 | 2 | 131 |
| Sales growth | 5523 | 1.608 | 8.829 | −13.275 | 15.202 |
| The size of firm | 5523 | 7.767 | 0.702 | 6.164 | 10.792 |
| Variable | Obs | Mean | Std. dev. | Min | Max |
|---|---|---|---|---|---|
| Return on assets | 5523 | 2.405 | 4.253 | −42.62 | 65.87 |
| Return on equity | 5523 | 5.45 | 5.578 | −4.71 | 14.04 |
| EPS | 5523 | 79.142 | 90.665 | −49.994 | 253.956 |
| Tobin’s Q | 5523 | 0.004 | 0.003 | 0.001 | 0.07 |
| Equity multiplier | 5523 | 2.546 | 1.054 | 1.393 | 4.702 |
| Interest coverage | 5523 | 43.452 | 59.654 | −1.603 | 186.429 |
| Fixed charge coverage ratio | 5523 | 1.974 | 2.636 | 0 | 8.406 |
| Degree of financial leverage | 5523 | 1.182 | 0.903 | −0.179 | 2.956 |
| Debt-to-EBITDA ratio | 5523 | 7.258 | 5.822 | 1.111 | 19.9 |
| Capitalization ratio | 5523 | 0.513 | 0.199 | 0 | 1.557 |
| Age of the firms | 5523 | 64.474 | 16.564 | 2 | 131 |
| Sales growth | 5523 | 1.608 | 8.829 | −13.275 | 15.202 |
| The size of firm | 5523 | 7.767 | 0.702 | 6.164 | 10.792 |
Source(s): Authors’ own work
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