Table 2.

Descriptive statistics of variables in multivariate analysis: Italy sample

MeanSD25th PercentileMedian75th Percentile
LAH7.2170.8156.6177.1597.758
LAF11.6010.82711.01511.57912.086
SIZE6.2721.7555.0516.0227.459
CATA0.5000.2120.3390.4880.665
QUICK1.1510.9310.6990.9411.316
LEV0.6420.1920.5380.6610.772
ROA0.0100.080−0.0090.0200.046
LOSS0.2970.4570.0000.0001.000
σ (CFO)0.4610.2740.2790.4150.587
SALES GROWTH0.62112.575−0.0470.0440.140
TENURE3.9232.3132.0004.0006.000
|ACCR_1|−3.7541.332−4.440−3.599−2.847
BIGN0.8860.3181.0001.0001.000
UNCLEAN OPINION0.6820.4660.0001.0001.000
LABOR COST42.3010.76942.57342.57342.573
National Leader0.3520.4780.0000.0001.000
Area Leader0.3970.4900.0000.0001.000
City Leader0.3790.4850.0000.0001.000

Note:

See  Appendix for variable definitions

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