Table II

Descriptive statistics of cement sector

VariableObsMeanSDMin.Max.
COE1088.222.0275.97212.889
BOWNS10862.77218.30521.21393.155
IOWNS10817.83523.473092.853
NED1084.2781.59308
INED1081.5931.34706
BDS1087.8430.968610
FMD1080.5830.90803
DUALITY1080.0460.21101
TENURE1083.1571.69816
LEV10847.93931.3269.231181.989
LNTA10816.3951.51812.19122.225

Notes: COE, cost of equity; BOWNS, block ownership; IOWNS, inside ownership; NED, non-executive directors; INED, independent non-executive directors; BDS, board size; FMD, female directors; DUA, CEO duality; CEO TEN, CEO tenure; LEV, leverage; LNTA, LOG of total assets

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