Table 1. Descriptive statistics by...

Table 1.

Descriptive statistics by period and firm size

Variable	1983–1984			1985–1989			1990–1996
Variable	Small	Med.	Large	Small	Med.	Large	Small	Med.	Large
Obs.	250	346	411	1,910	1,778	1,654	1,437	1,471	1,530
Capital K
Average	36	171	1179	32	164	1127	33	160	1211
SD	(21)	(65)	(918)	(20)	(64)	(902)	(21)	(65)	(969)
$Δ K / K$ %	−5.6	−9.2	−4.9	3.4	5.5	4.7	−1.4	2.3	3.3
K/(H + L)	0.7	1.7	3.4	0.8	1.9	3.5	1.1	2.4	4.0
Debt B
Average $\|_{B > 0}$	66	172	503	61	172	475	60	143	467
SD_B_>0	(74)	(179)	(362)	(74)	(178)	(352)	(99)	(165)	(371)
$Δ B / B$ % $\|_{B > 0}$	18.1	22.5	5.9	2.8	3.1	2.2	0.6	1.7	−0.6
$B / K \|_{B > 0}$	1.9	1.1	0.4	1.9	1.0	0.4	1.8	0.9	0.4
%Obs. $\|_{B = 0}$	20.8	15.3	8.8	23.1	14.8	10.1	28.0	11.2	5.1
Permanent labor H
Average	51	92	319	34	75	281	24	51	247
SD	(42)	(67)	(282)	(29)	(63)	(259)	(24)	(51)	(247)
$Δ H / H$ %	−1.8	0.2	−1.2	0.5	0.6	0.7	−2.5	−0.4	−0.3
Temporary labor L
Average $\|_{L > 0}$	11	16	33	9	19	58	9	18	65
SD $\|_{L > 0}$	(25)	(32)	(87)	(12)	(29)	(108)	(9)	(23)	(108)
$Δ L / L$ % $\|_{L > 0}$	26.7	0.9	14.3	7.8	12.6	16.3	−1.1	−1.3	−3.6
%Obs. $\|_{L = 0}$	61.6	54.3	45.7	47.9	36.5	28.5	28.0	19.8	16.3
L/(H + L)%	9.2	7.5	5.9	11.2	13.3	12.9	20.1	21.6	17.8

Variable	1983–1984			1985–1989			1990–1996
Variable	Small	Med.	Large	Small	Med.	Large	Small	Med.	Large
Obs.	250	346	411	1,910	1,778	1,654	1,437	1,471	1,530
Capital K
Average	36	171	1179	32	164	1127	33	160	1211
SD	(21)	(65)	(918)	(20)	(64)	(902)	(21)	(65)	(969)
$Δ K / K$ %	−5.6	−9.2	−4.9	3.4	5.5	4.7	−1.4	2.3	3.3
K/(H + L)	0.7	1.7	3.4	0.8	1.9	3.5	1.1	2.4	4.0
Debt B
Average $\|_{B > 0}$	66	172	503	61	172	475	60	143	467
SD_B_>0	(74)	(179)	(362)	(74)	(178)	(352)	(99)	(165)	(371)
$Δ B / B$ % $\|_{B > 0}$	18.1	22.5	5.9	2.8	3.1	2.2	0.6	1.7	−0.6
$B / K \|_{B > 0}$	1.9	1.1	0.4	1.9	1.0	0.4	1.8	0.9	0.4
%Obs. $\|_{B = 0}$	20.8	15.3	8.8	23.1	14.8	10.1	28.0	11.2	5.1
Permanent labor H
Average	51	92	319	34	75	281	24	51	247
SD	(42)	(67)	(282)	(29)	(63)	(259)	(24)	(51)	(247)
$Δ H / H$ %	−1.8	0.2	−1.2	0.5	0.6	0.7	−2.5	−0.4	−0.3
Temporary labor L
Average $\|_{L > 0}$	11	16	33	9	19	58	9	18	65
SD $\|_{L > 0}$	(25)	(32)	(87)	(12)	(29)	(108)	(9)	(23)	(108)
$Δ L / L$ % $\|_{L > 0}$	26.7	0.9	14.3	7.8	12.6	16.3	−1.1	−1.3	−3.6
%Obs. $\|_{L = 0}$	61.6	54.3	45.7	47.9	36.5	28.5	28.0	19.8	16.3
L/(H + L)%	9.2	7.5	5.9	11.2	13.3	12.9	20.1	21.6	17.8

Notes:

Data on capital and debt are given in million pesetas of 1987; large, medium-sized and small firms are, respectively, in the upper, medium and lower third of the capital distribution

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